New price band and pre-open rules for ETFs from September 7, 2026

[BB789]

@rihan_baji

Instead of using the T-2 NAV, the base price will now be determined in this order:

1. T-1 closing price — VWAP of the last 30 minutes.
2. If there was no trade during the last 30 minutes — T-1 Last Traded Price (LTP).
3. If there was no trade at all on T-1 — latest available closing NAV.

The base price will also be adjusted for corporate actions, if any.

From April 1, 2027, the base price is expected to move to the T-1 closing NAV.

Does this apply for international etfs as well? Without NAV anchor, those things will rip if based on closing price