markets · intermediate
Call auction
A call auction matches buy and sell orders at a single equilibrium price during a defined matching window.
Indian markets use call auctions in pre-open and in some special sessions.
Orders accumulate without continuous matching until the auction algorithm runs.
The equilibrium price aims to maximise matched volume subject to exchange rules.
Volatile reopenings after halts may also use auction mechanisms.
Part of the Market Pulse Term of the Day series — factual market vocabulary, not investment advice.