NSE & BSE CAS Revised Pre-Market Timings – Effective 07 September 2026
What has changed in the Pre-Open Market Session from September 7, 2026? The revised framework changes the treatment of Market Orders during the Order Entry Period. Market Orders are accepted only during the initial five minutes, from 9:00 a.m. to 9:05 a.m. From 9:05 a.m. to 9:10 a.m., only Limit Orders are permitted.
Pursuant to SEBI Circular No. HO/47/11/11(3)2025-MRD-POD2/I/2765/2026 dated January 16, 2026, and the subsequent implementation circular issued by the National Stock Exchange of India Limited (NSE) vide Circular No. NSE/CMTR/74969 dated July 1, 2026,
The Pre-Open Auction Session framework has been modified with effect from September 7, 2026 as per SEBI Circular HO/47/11/11(1)2026-MRD-POD3/I/19839/2026 dated August 28, 2026 and NSE circular NCL/CMPT/76060 dated August 31, 2026.
The revised Pre-Open Session timings and order-entry framework shall be effective from September 7, 2026.
Revised Pre-Open Session Timing
| Revised Timings | Session | Details |
|---|---|---|
| 9:00 a.m. to 9:05 a.m. | Order Entry Period – Phase I | Entry, modification and cancellation of Limit and Market Orders will be permitted. |
| 9:05 a.m. to 9:10 a.m. | Order Entry Period – Phase II | Entry, modification and cancellation will be permitted only for Limit Orders. Market Orders will not be permitted. |
| 9:10 a.m. to 9:12 a.m. | Order Matching & Trade Confirmation | Order matching, opening price determination and trade confirmation will take place. |
| 9:12 a.m. to 9:15 a.m. | Buffer Period | Transition from Pre-Open Session to Continuous Trading Session. |
Please note that the Order Entry Period may close randomly during the last 2 minutes of the respective period as per the Exchange mechanism.
Important Points for Clients
- Market Orders will be accepted only during the initial 5 minutes, i.e. from 9:00 a.m. to 9:05 a.m.
- From 9:05 a.m. to 9:10 a.m., Market Orders will not be permitted. Any Market Order placed during this period will be rejected by the Exchange.
- Special Term Orders such as Stop Loss (SL), Immediate or Cancel (IOC) and Disclosed Quantity (DQ) orders will not be permitted during the Pre-Open Session.
- Orders placed during the Pre-Open Session will be subject to the applicable order matching and price discovery mechanism prescribed by NSE.
- Trade cancellation requests for trades executed during the Pre-Open Session will not be permitted.
- The overall Pre-Open Session will continue to operate from 9:00 a.m. to 9:15 a.m., with the above changes in the respective phases.
You are requested to take note of the above changes and accordingly plan your order placement in the Pre-Open Session with effect from September 7, 2026. For further details, you may refer to the relevant NSE circular and FAQs on the Pre-Open Session.
Frequently Asked Questions
When are the revised Pre-Open Market Session timings effective?
The revised Pre-Open Session timings and order-entry framework are effective from September 7, 2026.
When are Market Orders permitted during the Pre-Open Session?
Market Orders are accepted only during the initial five minutes, from 9:00 a.m. to 9:05 a.m.
Are Market Orders permitted from 9:05 a.m. to 9:10 a.m.?
No. Market Orders are not permitted from 9:05 a.m. to 9:10 a.m. Any Market Order placed during this period will be rejected by the Exchange.
What orders are permitted during Phase II?
From 9:05 a.m. to 9:10 a.m., entry, modification and cancellation are permitted only for Limit Orders.
What happens from 9:10 a.m. to 9:12 a.m.?
Order matching, opening price determination and trade confirmation take place during this period.
What is the Buffer Period?
The Buffer Period runs from 9:12 a.m. to 9:15 a.m. and provides the transition from the Pre-Open Session to the Continuous Trading Session.
Are Stop Loss, IOC and DQ orders permitted?
No. Special Term Orders such as Stop Loss (SL), Immediate or Cancel (IOC) and Disclosed Quantity (DQ) orders will not be permitted during the Pre-Open Session.
Can trade cancellation requests be made for Pre-Open Session trades?
No. Trade cancellation requests for trades executed during the Pre-Open Session will not be permitted.
