The National Stock Exchange (NSE) is set to revise the framework for its pre-open market session from Sept 7, bringing the order collection and price discovery process closer to the mechanism used during the Closing Auction Session. While the pre-open session will continue to operate from 9:00 am to 9:15 am, the exchange is changing the manner in which orders can be placed and matched during the 15-minute window. The revised framework is aimed at making the pre-open auction process more structured and strengthening the process of price discovery at the start of the trading day. What Is Changing In NSE Pre-Open Session? Under the revised framework, market and limit orders will be permitted only during the first five minutes of the pre-open session, from 9:00 am to 9:05 am. From 9:05 am to 9:10 am, only limit orders will be allowed. The order matching process and determination of the opening price will then take place between 9:10 am and 9:12 am. This represents a shift from th...
Brokerages have spotlighted opportunities across capital goods, insurance, mining, automobiles, and pharmaceuticals, with fresh calls on L&T, Sun Pharma, SBI Life Insurance, Eicher Motors, and Samvardhana Motherson, alongside their views on the cement and steel sectors and auto sales trends. GS on SBI Life Maintain Buy with TP of Rs 2235 Regulatory overhang on commissions remains, but SBI Life appears relatively insulated Management does not expect material disruption to the bancassurance model Growth guidance remains around 14%–15% on Individual APE Protection growth is not viewed as merely GST-led Margin outlook should be supported by mix shift and operating leverage, despite GST pressure Agency remains a medium-term growth lever, but execution is key Credit life bundling concerns appear limited for SBI Life Citi on L&T Maintain Buy with TP of Rs 4650 Robust Order Inflow Momentum Strengthens Medium Term Visibility Order wins strengthe...