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Nifty and Bank Nifty Surge Past Key Milestones Amid Closing Auction Session Swings
M
Moneycontrol•06-10-2026, 16:11
Nifty and Bank Nifty Surge Past Key Milestones Amid Closing Auction Session Swings
- •The Closing Auction Session caused sharp market swings on F&O expiry, pushing Nifty briefly up by 2 percent past 23,000 before it settled at 23,776.1.
- •Bank Nifty also crossed the 55,500 mark before settling 0.76 percent higher at 55,128.4 during the volatile session.
- •Reports indicate that SEBI is likely to stop using closing auctions for derivatives settlement prices for at least a year following these wild swings.
- •SEBI may shift to using the volume-weighted average price of the last 30 minutes of trading to determine derivative pricing, with changes expected by the end of the month.
- •Broader markets rebounded as strong bank quarterly updates highlighted economic resilience, with upcoming policy decisions and earnings serving as key near-term triggers.
Key Questions Answered
The Closing Auction Session caused sharp market swings on F&O expiry, with Nifty briefly surging 2% to cross the 23,000 mark before settling at 23,776.1 and Bank Nifty rising 1.55% past 55,500 before settling at 55,128.4.
SEBI is likely to stop using closing auctions to calculate derivatives settlement prices for at least a year and instead use the volume-weighted average price of the last 30 minutes of trading.
Analysts note that the upcoming policy rate decision and Tata Consultancy Services' quarterly earnings are the key near-term triggers for the markets.
