What is periodic call auction & why are some stocks traded in this category?
Periodic Call auction was introduced by SEBI in 2013 to curb volatility in illiquid stocks. Stocks that qualify the criteria of illiquidity is explained in this SEBI circular such as the average daily number of trades of less than 50, the daily trading volume of less than 10000, and a bunch of other such conditions.
|Session No||Start Time- Order Placement||Order Matching||Buffer Period|
|1||9.30 AM- 10.15 AM||10.15 AM- 10.23 AM||10.24 AM to 10.30 AM|
|2||10.30 AM- 11.15 AM||11.15 AM- 11.23 AM||11.24 AM to 11.30 AM|
|3||11.30 AM- 12.15 PM||12.15 PM- 12.23 PM||12.24 PM to 12.30 PM|
|4||12.30 PM- 1.15 PM||1.15 PM- 1.23 PM||1.24 PM to 1.30 PM|
|5||1.30 PM- 2.15 PM||2.15 PM- 2.23 PM||2.24 M to 2.30 PM|
|6||2.30 PM- 3.15 PM||3.15 PM- 3.23 PM||3.24 PM to 3.30 PM|