NSE splits pre-open session into two phases starting September 7
India's National Stock Exchange will restrict market orders in the second phase of its pre-open auction, accepting only limit orders from 9:05 am to 9:10 am.
The National Stock Exchange of India (NSE) is altering its pre-open session rules effective September 7. The overall session timeframe remains nine minutes, running from 9 am to 9:15 am. Order entry is now split into two distinct phases. From 9 am to 9:05 am, investors can place both market and limit orders. Starting at 9:05 am, the exchange will accept only limit orders until 9:10 am. Market orders placed during this second window will be rejected. A random closure may occur during the final two minutes of this phase. Order matching takes place between 9:10 am and 9:12 am. Regular trading resumes at 9:15 am. This change prevents traders from submitting market orders after 9:05 am, requiring them to specify a price via limit orders instead.
