IEX in Crisis: Market Coupling Triggers Sharpest Fall Since IPO

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Reason for Share Fall:
CERC has approved the implementation of market coupling for the Day-Ahead Market (DAM) starting January 2026.

What is Market Coupling?
A centralized platform that integrates bids from all exchanges (IEX, PXIL, HPX), ensuring: Uniform pricing, Single price discovery, Competition among exchanges

Impact on IEX:
Loss of pricing power, Lower transaction charges, Revenue erosion, Reduced trade volumes over time.

Market Reaction
Stock crashed up to 28% in a day (worst since IPO in 2017)
7 consecutive sessions of decline
Hit multiple lower circuits
Record intraday volume spike and investor panic selling

Technical Levels:
Support Zone: ₹135–₹126
Resistance Zone: ₹170–₹175

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