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Informist, Monday, Aug. 31, 2026

 

--NSE: Closing auction session turnover INR 397.18 bln Monday

--NSE: Monday closing auction session turnover 22% of total cash mkt

--NSE: Monday closing auction turnover driven by MSCI indices rebalancing

 

MUMBAI - The trading volume for the closing auction session on the National Stock Exchange of India jumped up Monday to INR 397.18 billion on the back of trading activity from rebalancing of certain indices of MSCI Inc. Monday was among the largest turnover days for NSE's closing auction session since its introduction on Aug. 3. The NSE had been reporting an average of around INR 10 billion-INR 20 billion of turnover in the closing auction session the past couple of weeks.

 

The exchange said in a press release Monday that the INR 397.18 billion turnover in the closing auction session accounted for 22% of the day's total cash market turnover. The NSE said Monday's activity marked the first-ever index rebalancing day since the closing auction session went live in the Indian stock market. On the BSE, however, the turnover in the closing auction session was only around INR 595 million Monday, though it was also higher than the average of around INR 150 million-INR 200 million in the last few trading days.

 

MSCI had earlier this month announced changes in some of its key global indices, including MSCI India index, which were to take effect as of the close of Monday. This led to global passive funds tracking these indices to reshuffle their stock portfolios across global markets at close on Monday. "Index rebalancing days see heavy trading at the close, as index funds, exchange traded funds, and other passive investors realign their portfolios at the closing price," NSE said in its press release.

 

The jump in turnover for NSE's closing auction session was led by stocks such as Eternal Ltd., Laurus Labs Ltd., Adani Energy Solutions Ltd., Astral Ltd., and SBI Cards and Payment Services Ltd. In the case of Eternal, the effect was from the increase in its weightage in one of the MSCI indices.

 

Reliance Industries Ltd. was the third largest-traded stock in NSE's closing auction session Monday. This was also because of the weight adjustments from the MSCI indices rejig. An earlier study by Nuvama Alternative and Quantitative Research had given a list of stocks where weight changes due to free float market capitalisation adjustment by MSCI would lead to inflows or outflows by passive funds. Reliance Industries, Jio Financial Services Ltd., and three other Indian stocks were among those where the weights go down. Eternal, Adani Enterprises Ltd., and five other Indian stocks were among stocks where the weights go up.

 

Apart from the effect on turnover in the closing auction session, the affected stocks showed volatile price movement in the closing auction session, aided by the price band of 3% from the reference price fixed at the close of normal continuous trading session and before the start of the auction session. A market analyst said in a post on X that the index rebalancing-affected stocks had "hard 3% price band prints".

 

The closing auction session in the cash market takes place only in stocks in which stock futures and stock options trading are permitted. Some of the Indian stocks affected by MSCI indices' rejig, such as Lenskart Solutions Ltd. and Billionbrains Garage Ventures Ltd., are currently not in the permitted futures and options list and did not have an effect on the turnover in the closing auction session.

 

The next major index rebalancing event is scheduled for Sept. 29, the day before the recently announced routine changes in Nifty indices by the NSE. BSE Ltd. will replace Wipro Ltd. in the Nifty 50 index with effect from Sept. 30. Hitachi Energy India Ltd., Polycab India Ltd., Vedanta Aluminium Metal Ltd., and Vodafone Idea Ltd. will get included in the Nifty Next 50 index.  End

 

Reported by Rajesh Gajra

Edited by Rajeev Pai

 

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