BSE shares tumble over 13% since Sebi action on Jane Street; down another 8% today
[hfe_template id='11223']
[ad_1]
Shares of BSE Ltd, Asia’s oldest stock exchange, plunged as much as 7.5% on Tuesday, extending their three-day decline to 13.5%, as investors continued to exit capital market stocks following Sebi’s order barring U.S. trading firm Jane Street from Indian markets. The regulator’s action has cast a shadow over the exchange’s lucrative derivatives segment and exposed vulnerabilities in India’s high-speed trading infrastructure. The sharp correction in BSE shares comes after Sebi accused Jane Street of manipulating expiry-day moves in India’s benchmark indices, including the Sensex, to profit from its derivatives positions. The regulator barred the firm and four affiliates from the Indian market and ordered the seizure of Rs 4,840 crore in alleged unlawful gains. Sebi’s 105-page order alleged that Jane Street “participated in the cash & derivatives markets as an FPI as well as a member” and had “engineered expiry-day moves” to mislead tra...