Why is SEBI introducing the new Closing Auction Session (CAS) framework to define the closing price?

There are multiple advantages of using this Closing Auction Session (CAS) framework, here are some:

• Stops last-minute price manipulation: Gathering all buy and sell orders into a single pool prevents a few late trades from artificially driving the stock price up or down.
• Makes big trades easier for institutions: Large investors can trade huge volumes all at once without having to split up their orders or accidentally push the stock price around.
• Matches major world markets: Brings Indian stock trading in line with global standards used by major exchanges like the NYSE, Nasdaq, and LSE.
• Improves index funds and ETFs: Helps passive fund managers buy or sell at the exact closing price, making sure funds track market indices much more accurately.