Bid-ask spread
Trading & ordersThe gap between the best bid and the best ask.
In plain terms
The cost of being in a hurry. In illiquid stocks it is often your largest single cost.
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Glossary
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Tick size
Trading & ordersThe smallest increment by which a security's price may move, typically 5 paise for most Indian equities.
In plain terms
It sets a floor on how tight a bid-ask spread can ever be. That floor bites hardest in low-priced stocks, where one tick is a meaningful percentage.