Closing Auction Session needs market makers as price swings persist

India’s new 20-minute Closing Auction Session (CAS) absorbed a record $4.2 billion in MSCI-linked trades on Monday, but sharp price swings persisted despite the surge in volumes. Around 60 stocks hit their 3% price limits, highlighting concerns over thin liquidity and the lack of market makers, which could be crucial for the system’s long-term success.