Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
Showing 2 terms
The 9:00–9:15 window in which the NSE collects orders and computes a single opening price.
Orders collect until 9:08, match until 9:12, and everyone who trades gets the same equilibrium price.
A call auction the exchange runs to discover the first price of a security that has no previous close, such as a fresh listing or a company listing under a scheme.
A price band has to be drawn around something. On a first day there is no previous close, so orders are collected over a window and matched at one equilibrium price.