9:15 am onwards
The trading session
Continuous trading: orders match one by one as they arrive. For most of the day the cash market and derivatives run side by side; they part at the close.
Two closing times in the cash market
Phase 1: Applicable only to stocks in the cash segment on which derivative contracts are available.
Continuous Trading for Non-CAS Securities: Session timings are 9:15 am to 3:30 pm.
In plain words
Stocks on which derivative contracts are available move to the closing auction at 3:15 pm, when NSE’s table starts the “transition from Continuous Trading Session (CTS) to CAS”. Other securities keep trading continuously until 3:30 pm.
Equity derivatives
Equity Derivatives Segment: Session timings are 9:15 am to 3:40 pm.
The price band of futures during the period from 3:15 p.m. to 3:40 p.m. shall be in alignment with the price band applicable during CAS.
Members are requested to note that the reference price computation and applicable price band guidelines specified in clauses 2.3 and 3.2 respectively, of the aforesaid circular , shall also apply to index futures contracts, in addition to stock futures contracts, with effect from September 7, 2026.
In plain words
Futures keep trading until 3:40 pm, but from 3:15 pm their price band follows the closing auction’s ±3% band around a reference price — first for stock futures, and from 7 September 2026 for index futures too.