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What is a periodic call auction?

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What is a periodic call auction?

A periodic call auction is a measure by SEBI to reduce the volatility in illiquid stocks. Stocks traded in this category meet specific criteria outlined by SEBI like having less than 50 average daily number of trades, less than 10,000 daily trading volume, etc. 

Here are the timelines for when you can trade in stocks under periodic call auctions:

Session NoStart Time- Order PlacementOrder matchingBuffer period
109:30 AM – 10:15 AM10:15 AM – 10:23 AM10:24 AM to 10:30 AM
210:30 AM – 11:15 AM11:15 AM – 11:23 AM11:24 AM to 11:30 AM
311:30 AM – 12:15 PM12:15 PM – 12:23 PM12:24 PM to 12:30 PM
412:30 PM – 01:15 PM01:15 PM – 1:23 PM01:24 PM to 01:30 PM
501:30 PM – 02:15 PM02:15 PM – 2:23 PM02:24 PM to 02:30 PM
602:30 PM – 03:15 PM03:15 PM – 3:23 PM03:24 PM to 03:30 PM 

Note: 

  • You can only place limit orders in the periodic call option category
  • You cannot place orders during the order matching time