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The Economic Times
The Economic Times
Business

We imported the auction, but we left out the brakes

CAS India SEBI Sensex

Every trading day ends with a single number: the closing price. It looks innocuous. It is anything but.

That number determines mutual fund NAVs, influences the Nifty and Sensex, and settles expiry-day derivatives. If the closing price is distorted, the consequences do not end with traders. They travel quietly through the financial system.

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