New Delhi, Aug. 4 -- Indian stock markets switched to an auction-based closing price mechanism on Monday, with the launch of the Closing Auction Session (CAS). The shift is designed to improve price discovery, curb manipulation and bring India's market structure closer to that of global peers.

The BSE calls the implementation successful, saying, "BSE Ltd today successfully rolled out the Closing Auction Session (CAS) functionality, as per the stipulations in SEBI circular and Exchange SOPs. The Exchange saw an active participation from over 400 Trading Members (TMs) in more than 200 scrips. The CAS functionality got implemented exactly as designed, and the market remained stable."

The Exchange thanks all trading members, market particip...