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Pre-open Session . How is the equilibrium price
determined ? Pre-open Session . How is the
by Editors at SAS-Online | Aug 11, 2017 | Market Pulse, SAS Updates | 0 comments equilibrium price determined
?
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1 of 4 8/25/17, 12:23 AM
Pre-open Session . How is the equilibrium price determined ? - SASO https://sasonline.in/pre-open-session-equilibrium-price-determined/?ut...
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Say for example, previous day closing price of Stock A is Rs. 200. The following table gives the price and quantity gures
during the pre-open session Circulars & Updates
Demat Account
Demand & Supply
Order Book ELSS
Quantity Maximum Tradable
Share Price Unmatched Orders Events
Quantity
BUY SELL Demand Supply Investor
Market Pulse
202 1000 985 3400 985 985 2415 News
Quiz
204 1275 1161 13600 22000 22000 -8400
SAS Updates
Share price Rs.199 corresponds to the highest tradable quantity of 27000 and hence will be considered as the equilibrium
or call auction price.
Case II
The above table shows maximum tradable quantity corresponding to two prices.
In that case minimum unmatched orders quantity corresponds to Rs.199 (10,000) and not Rs. 205 (16,500). Hence in this
scenario share price of Rs.199 will be taken to be the equilibrium price or co-auction price.
Case III
A further possibility is that both maximum tradable quantities and unmatched orders are the same as the highlighted
rows in the following table show.
2 of 4 8/25/17, 12:23 AM
Pre-open Session . How is the equilibrium price determined ? - SASO https://sasonline.in/pre-open-session-equilibrium-price-determined/?ut...
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Case IV
But if both the prices are equidistant as is shown by the following table.
In this case the previous days closing price will be the equilibrium or call-auction price.
Remember
Limit orders will get precedence over market orders during execution.
All market orders will be executed at the determined equilibrium price or call-auction price.
All limit orders that are not executed will be moved to the regular trading session.
A uniform 20% price band is applicable to all eligible stocks during these 15 minutes
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Pre-open Session . How is the equilibrium price determined ? - SASO https://sasonline.in/pre-open-session-equilibrium-price-determined/?ut...
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