Investopedia explains 'Close'
The close of the New York Stock Exchange, which is marked by ringing a bell, is perhaps the most visible example of a market close.
Security prices at market close, or closing prices, are more important than intra-day prices for performance measurement. For example, the price performance of all securities on an equity index over the past year would be based on prices at today's close, compared with prices at close a year ago.
Since closing prices are widely followed and disseminated, they may occasionally be subject to manipulation by fraudsters, especially for micro-cap stocks with limited liquidity. This prohibited practice is called "high close."
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