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NSE to change pre-open session rules from September 7
Starting Sept. 7, market orders will be rejected during the second pre-open phase, while the order-entry window will be split into two five-minute periods.
LiveMint Markets reports the National Stock Exchange will revise its pre-open session rules effective Monday, September 7, while keeping overall session timings unchanged.
The changes split the order-entry period into two phases and restrict market orders in the second phase to improve alignment with the equity cash market closing auction session introduced by SEBI.
Under the new schedule, Phase 1 runs from 9:00 AM to 9:05 AM, when investors can place, modify, or cancel both limit and market orders. Phase 2 runs from 9:05 AM to 9:10 AM, when only limit orders are allowed and market orders will be rejected; the exchange may also apply a random closure during the final two minutes of that phase.
The order-matching and trade-confirmation segment will run from 9:10 AM to 9:12 AM, compared with the current 9:08 AM to 9:12 AM, followed by a buffer period from 9:12 AM to 9:15 AM to transition into continuous trading. The pre-open session applies to all equity market securities, including SME securities, partly paid-up securities, InvITs, and REITs, and is designed to align opening price discovery with the closing auction session launched on August 4.