India's two primary equity benchmarks diverged sharply on Monday, marking a rare break in their usual synchronized movement.
The NSE Nifty 50 surged 1.6%, driven by a sudden 200-point rally in the final two minutes of trading, while the BSE Sensex posted a more modest gain of 0.7%.
The split was not a technical glitch but a structural outcome of the newly implemented closing auction mechanism, which saw significantly lower participation than anticipated.
The anomaly underscores growing concerns about liquidity depth in the new auction format.
Brokers and market participants offered mixed interpretations of the event.
Some dismissed the rapid Nifty surge as a statistical outlier caused by a temporary demand-supply mismatch, while others pointed to lower awareness among institutional players regarding the new auction rules.