As per BSE website; all equity stocks which are classified as illiquid will be part of Periodic Call Auction Session. Periodic call auction sessions of one hour each shall be conducted daily throughout the trading hours with the first session starting at 9:30 am and last session ending at 3.30 pm as per the details given below:
![Periodic call auction session timings Periodic call auction session timings](http://lh5.ggpht.com/-o_WFyEAQJfg/UeOq-QYELkI/AAAAAAAAcPk/GXocKUawMTw/Periodic%252520call%252520auction%252520session%252520timings_thumb%25255B29%25255D.png?imgmax=800)
Each Periodic Call Auction Session will be divided into following periods:
» Order Entry
» Order Matching
» Buffer Period
Following is the duration of each period in Periodic Call Auction Session
![How order is executerd in peiodic auction process How order is executerd in peiodic auction process](http://lh3.ggpht.com/-8AwbyVk4_cM/UeOr1eBKbBI/AAAAAAAAcP4/-3z8XNRUDLs/How%252520order%252520is%252520executerd%252520in%252520peiodic%252520auction%252520process_thumb%25255B5%25255D.png?imgmax=800)