SEBI just rewired how ₹50,000 Cr of ETFs get priced. Tomorrow. And most retail investors have no idea.
On Sep 3, Sensex dropped 2,100 points in MINUTES during the Closing Auction Session.
Put options surged up to 446%.
It wasn't a crash. It was a pricing mechanism glitch.
Sep 7 is SEBI's answer.
Here's what actually changes:
OLD: Base price = T-2 day NAV. Stale. Prone to gaps.
NEW: Base price = last 30-min VWAP of yesterday's session.
Old price bands were static. New ones start at ±10%, expand to ±20% after a 15-min cool-off.
Liquid and Overnight ETFs get hit hardest — close-out price now = higher of (peak price to date) OR (5% above latest closing price). Expensive if you're short.
3 mistakes retail investors will make Monday:
1. Placing market orders on illiquid ETFs — new bands will eat you alive
2. Confusing iNAV with actual traded price — they diverge within the band
3. Ignoring pre-open auction for Commodity ETFs — Gold/Silver now open via call auction, not continuous trading
The plumbing changed. Your order habits haven't.
Are you trading Monday without reading this first?
All take the car from the court now because they are treating my hard earn money car with the behaviour I’ll not going to accept it. In bad road they are driving like it’s a off road car. I don’t want a car now from the people who are saying kharab hogi chalage warranty hai.
@Tataev@TataMotors I have given the car to rishab team (Zedex) they promised to give last friday. But not given. They keep the car open all the time. Windows down as always. Drive harshly and said “kharab hogi to thik ho jayegi warranty mai he to hai. Rude behaviour also.
@SBICard_Connect@TheOfficialSBI@DelhiPolice@RBI
This is the messages that I’m receiving from the SBI. And asking for the payment which never as been done. They are harassing and threatening and abusing as well.
@TataMotors@TataCompanies@Tataev
I purchased the Tata Punch EV Top end variant with Long Range. My have complaint so many time about same times [5 times]that car is not running more than 200km in the Eco mood with the Level 3 generation also taking 20 hours to get charged.
@cmohry@BJP4Haryana@police_haryana@gmDAOstudio@anilvijminister so much dirtyness on road created by Karmis in Gurgaon sector 109. 5-7 times discussed by owner and no action taken till date. Throwing garbage of smelly Non veg and having a broken sewers on road.