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SEBI, Stock Exchanges Enhance Vigil After Gujarat Exit Polls

According to an official, movements in in Nifty futures and options on the Singapore exchange would be closely watched since trading starts much before Indian markets open and their trends would have an impact on domestic stocks.

PTI

Updated:December 14, 2017, 8:17 PM IST
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SEBI, Stock Exchanges Enhance Vigil After Gujarat Exit Polls
In this file photo, the logo of the Securities and Exchange Board of India (SEBI) is pictured on the premises of its headquarters in Mumbai. (Reuters)
New Delhi: SEBI as well as stock exchanges have stepped up surveillance to keep a close tab on possible manipulations and excessive volatility in the markets as exit polls on Thursday indicated a clear majority for the ruling BJP in Gujarat.

With the second and final round of polling ending on Thursday, exit polls have predicted a victory for the BJP in Gujarat with a clear majority.

A senior official said the markets regulator and stock exchanges have beefed up surveillance and risk management systems as the exit polls outcome could have a bearing on trading activities on Friday.

A close vigil is being kept to check possible manipulations and excessive volatility in the markets, the official added.

According to the official, movements in in Nifty futures and options on the Singapore exchange would be closely watched since trading starts much before Indian markets open and their trends would have an impact on domestic stocks.

The keenly-contested elections in Gujarat, the home state of Prime Minister Narendra Modi, is likely to have an impact on the central government's economic agenda as well as on Lok Sabha polls in 2019.

The enhanced vigil on the markets would continue till December 18, when the results of Gujarat and Himachal Pradesh elections would be declared.

Poll results would start coming in during trading hours on December 18.

Typically, manipulators tend to exploit such volatile situations in the stock market.

'Dabba' trading or unauthorised trading activities are already active in Gujarat.

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