NSE F&O Pre-Open Session Launches December 8, 2025: New Trading Timings & Key Details

The National Stock Exchange (NSE) is set to revolutionise trading in its equity derivatives segment with the introduction of a pre-open session, effective from December 8, 2025.

As per the Exchange circular regarding Introduction of Pre-Open Session in Equity Derivatives (F&O) Segment, this move aligns with a SEBI directive issued on May 29, 2025, and will apply to futures contracts on both individual stocks and indices.

Traders can look forward to a more structured start to the day, helping reduce volatility right from the opening bell.

What is the Pre-Open Session and Why Does It Matter?

Think of the pre-open session as a warm-up phase before the main trading action begins. It runs for 15 minutes, from 9:00 am to 9:15 am, using a call auction mechanism, which is a system where buy and sell orders are collected and matched at a single fair price to determine the opening rate.

This helps discover a balanced opening price based on real demand and supply, minimising wild price swings that can occur in continuous trading.

For futures and options (F&O) traders, it’s a game-changer for setting the tone in a market known for its high leverage and speed.

Breaking Down the Timings and Phases

The session is neatly divided into phases to ensure smooth operations.

Order Entry Period: From 9:00 am to 9:08 am, traders can enter, modify, or cancel orders, both limit orders (where you specify a price) and market orders (executed at the best available price) are allowed, but special types like stop-loss or immediate-or-cancel (IOC) are off-limits. 
A clever twist: the system randomly closes this phase between the 7th and 8th minute to prevent last-second gaming.

Order Matching & Trade Confirmation: Right after, from around 9:08 am to 9:12 am, orders are matched at an equilibrium price, which becomes the official opening price. Matching follows a clear order: limit orders pair with limits first, then leftovers go to market orders, and finally market orders match among themselves. No changes or cancellations here, i.e., trades are final, with details shared before normal trading begins.

Buffer Period: A short buffer from 9:12 am to 9:15 am eases the shift to continuous trading. Throughout the pre-open, you’ll get live updates on the indicative opening price, total buy/sell quantities, and how it compares to the previous close, keeping everyone informed.

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Which Contracts Are Included?

As per the Exchange circular regarding Introduction of Pre-Open Session in Equity Derivatives (F&O) Segment, this applies to current-month futures on stocks and indices.

In the final five trading days before expiry, it also extends to next-month contracts. However, skip it for far-month (third-month) expiries, spread contracts, options on indices or stocks, or futures affected by corporate actions, such as dividends on ex-dates.

Market rules like tick size (smallest price move), lot size, and price bands remain the same as in regular trading.