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    On what basis is the equilibrium / opening price determined for pre-open session?

    Opening price is determined based on the principle of demand supply mechanism.

    The equilibrium price determined in pre-open session is considered as open price for the day.

     

    Maximum Volume:

    The equilibrium price is the price at which the maximum volume is executable.

     

    Minimum Order Imbalance (if multiple prices qualify):

    In case more than one price meets the criteria, the equilibrium price is the price with minimum order imbalance quantity (unmatched order quantity)

     

    Closest to Previous Closing Price:

    • In case more than one price has same minimum order imbalance quantity, the equilibrium price is the price closest to the previous day’s closing price.
    • In case the previous day’s closing price is the mid-value of pair of prices which are closest to it, then the previous day’s closing price itself is taken as the equilibrium price.
    • In case of corporate action, previous day’s closing price is adjustable closing price or the base price.


    Orders Considered:

    Both limit and market orders reckon for computation of equilibrium price.


    Opening Price for the Day:

    The opening price is determined based on the principle of demand and supply

    • The equilibrium price determined in pre-open session is considered as open price for the day.
    • In case only market orders exist both in the buy and sell side, then order is matched at base price. Therefore, Base price is the opening price.
    • In case no price is discovered in the pre-open session, the price of the first trade in the normal market will be considered as the opening price.
    For which instruments is pre-open session applicable in Equity Derivatives market? What are the pre-open session timings? What shall be the trading parameters for Equity Derivatives market for pre-open session? Will the Self Trade Prevention Check (STPC) mechanism be applicable during the pre-open session in the Equity Derivatives segment? The pre-open session comprises of how many sessions? What are the features? What happens to unmatched orders which are entered in the pre-open session? Will the orders received in pre-open session be validated at the applicable margins? What information related to pre-open shall be disseminated to website and mobile app? What will happen if market orders are placed between 09:05am to 09:10am? How orders are matched during Pre-open Session? What are the different prices / quantities displayed during Pre-open Auction Session?
    What is the Option 20 scheme? What is the GST amount for option trade? Where do I check the date from which I have been mapped under Options 20? Does ICICI Direct offer Futures & Options (F&O) contracts with up to 1-year expiry? What is VAR + ELM? Why is it required for stock options? What are the brokerage charges in Futures & Options if I am mapped to Option 7 scheme? Can I place an order before and after market hours for futures and options on ICICI Direct? What is the MTM (Mark-to-Market) process in F&O? Where can I check if a stock is in MWPL ban? Why am I unable to place an F&O order? Recent Price Revision in F&O When is Extreme Loss Margin(ELM) applicable? Why did my position in Futures and Options get squared-off ? What happens in case my F&O Limit goes negative due to placing Option Buy order at Market price? What are the system square off charges in F&O? How the fund payout process works in stocks and F&O contracts? What is the revised Securities Transaction Tax (STT) for F&O? Why isn't my order getting executed even though it has been placed successfully in Futures and Options? What are the criteria for the contract enablement in F&O? Understanding EBA/F&O Entries in Your ICICI Account or Ledger How limits are displayed on limits page? What is settlement cycle in F&O? How to download STT statement for Futures and Options? What is the additional exposure margin on securities under MWPL? When is a tax audit applicable to an F&O trader? Which ITR form should an F&O trader use for filling tax? Can F&O losses be set off against salary income or other business income? What happens if I incur a loss from F&O trading? Can I carry it forward? What are due dates and late filing impact? What documents are required for tax filling? What expenses can be deducted from F&O trading income? How much tax is payable on F&O profits? How is F&O turnover calculated for tax purposes? What are the new sectoral launches of NSE ? How is F&O trading income taxed in India? How is the amount of contract note is calculated? What is BSE launch on F&O contracts for Focused IT Index? How is Net total amount calculated in the contract note? Why my position in futures and options is squared off lot by lot? What are the transaction charges for Nifty FPI index? Does the ICICI Direct provides facility of SLBM?