Why Nifty 12700 Ce not increased even mkt opened on mahurat gap up @12823

The Futures and underlying can diverge due to volatility, it is normal.

The closing price which you see at 3:30 is LTP (Last Traded Price), exchange later adjusts closing price to Weighted Average Price of last 30 minutes and this can vary from LTP you see at 3:30.

If you want to know how WAP is calculated you can read this post.

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