Last traded price (LTP) is the price at which the most recent trade in a security took place on an exchange. It is updated every time a buyer and seller are matched. The abbreviation is used especially on the Indian exchanges, and elsewhere the same value is called the last price or last sale. It is the latest trade price in the day's sequence of trades.
The LTP is a record of what has happened, not an offer. A new order will trade against the current bid price or ask price, which can differ from the last trade, especially in a thinly traded share whose last trade may be minutes or hours old. The mid price is often a better guide to current value. The LTP at the end of the session is also not always the official closing price, which many exchanges set by an auction or by averaging trades in the final minutes.