New Delhi, Sept. 2 -- BSE share price fell as much as 3% in Wednesday's trading session the exchange acknowledged that the recently introduced Closing Auction Session has resulted in lower trading volumes.

BSE share price opened at Rs.3,222.60 per share today, as compared to previous close of Rs.3,242 on Tuesday. The stock reached an intraday low of Rs.3,131.50 on 2 September.

Introduced on August 3, the Closing Auction Session (CAS) is a short end-of-day auction where buy and sell orders are matched to establish a stock's official closing price. Similar auction mechanisms are already in use across several Asian markets, including China, Taiwan, Hong Kong and South Korea.

"CAS has led to lower participations from HFT, proprietary accou...