The historical OHLC (Open, High, Low, Close) on the charts can sometimes differ from the records published by NSE or BSE. This happens because the chart adjusts historical prices for corporate actions, while the exchange records show the actual traded prices.
Charts adjust for corporate actions
To keep the price series continuous and technical analysis accurate, the chart adjusts past prices when a stock undergoes a corporate action, such as:
- Bonus issues
- Stock splits
- Rights issues
- Spin-offs (demergers)
- Extraordinary dividends (typically 2% and above)
For example, after a stock split, the older prices are scaled down so the chart doesn't show a misleading gap on the day of the split — the line stays continuous.
NSE and BSE records show the actual traded prices
The records published by NSE and BSE show the precise prices at which the stock actually traded on each day, without these corporate-action adjustments.
Why they differ
Because the two serve different purposes, their historical values can differ:
- The chart shows adjusted prices — best for reading trends and doing technical analysis across a corporate action.
- The exchange records show the actual, unadjusted traded prices for each day.
It's not an error — the chart is adjusted for continuity, while the exchange record is the raw historical print.