Mumbai, Aug. 4 -- The nearly 200-point jump in the Nifty during the final minutes of trading on Monday, the first day of the National Stock Exchange's (NSE) new Closing Auction Session (CAS) was primarily the result of an imbalance between buyers and sellers, and not because there was a problem with the new auction mechanism, according to market expert V. Shunmugam, Partner at MCQube.

In an exclusive conversation with ANI, Shunmugam said the contrasting movement in the Nifty and Sensex on the first day surprised many market participants. While the Nifty moved sharply higher during the closing auction, the Sensex ended lower.

Explaining the reason in simple terms, he said stock prices in the closing auction are determined by the number o...