Sebi's new closing auction session (CAS) determines stock prices, enhancing price discovery, reducing manipulation, and aiding index/ETF tracking; a global standard. Options traders face initial friction adapting. Sebi stresses CAS improves market stability and efficiency, making large order execution efficient and preventing timed price influence. The regulator welcomes feedback for fine-tuning its phased rollout, confirming CAS is permanent. Addressing options trading timing gaps and ensuring volume revival are crucial for smooth operation, curbing speculation.