SEBI updates CAS rules, revises session timings

The SEBI has updated the Closing Auction Session (CAS) framework to improve price discovery and market orderliness across the cash and derivatives segments. Under the revised rules, CAS operates as a 10-minute session from 3:30 pm to 3:40 pm, with specific phases for order entry. Additionally, the methodology for calculating settlement prices for derivatives contracts has been updated.