NSE Introduces Pre-Open Session for Equity Derivatives (F&O)

NSE will roll out a structured pre-open session for equity derivatives from 8th December 2025, covering index and single stock futures. 

Key Objectives: With rising retail participation and intense expiry-day activity, SEBI has implemented stronger measures to make market openings more stable and dependable, aiming to:

• Ensure clear and fair opening prices
• Minimise sudden volatility at the start of trading
• Improve the price discovery process
• Enable smoother and more predictable market openings

Key Highlights of NSE’s Pre-Open Session for F&O

The pre-open session for the equity derivatives segment will run from 9:00 AM to 9:15 AM:

The session begins with the Order Entry phase (9:00 – 9:08 AM), where traders can place, modify, or cancel orders. This window will close randomly between the 7th and 8th minute to prevent price manipulation.

This is followed by the Order Matching phase (9:08 – 9:12 AM), during which trades are executed based on an equilibrium price discovery mechanism.

The final Buffer Period (9:12 – 9:15 AM) ensures a smooth transition into regular trading hours.

Eligible Contracts

• Applicable to current-month futures contracts for both Single Stocks and Indices. 
• Also extended to next-month futures during the last five trading days before the expiry of the current-month contract. 

Real-Time Data Visibility & Order Types

• Traders can place limit and market orders during the Order Entry phase. 
• Stop-loss and IOC (Immediate or Cancel) orders will not be accepted. 
• Live display will include indicative opening price, order book status, demand-supply data, and equilibrium price information via the NSE system. 

Market Parameters

• Lot size, tick size, and price band will remain unchanged compared to normal trading sessions. 
• The book type for this session will be designated as “PO” (Pre-Open). 

For detailed guidelines, refer to NSE Circular.