Didn’t get specific info on unfair trading on poll results day: Sebi
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New Delhi: Capital markets regulator Sebi has not received any specific information on any ‘unfair trading’ in the stock market crash on the Lok Sabha poll results day on June 4, which wiped out billions of investors wealth, Parliament was informed on Monday.
In a written reply to the Lok Sabha, Minister of State (MoS) for Finance Pankaj Chaudhary said stock market movements are a function of investor perceptions along with other factors. He was replying to question whether it is a fact that there is an unprecedented fall of stock prices and points amounting to a loss of Rs30 lakh crore to investors immediately after the general elections-2024 results. The minister was also asked if it is a fact there was a demand to investigate the matter by the Securities and Exchange Board of India.
“Though Sebi has received representations on the above stock market movements, no specific information on any unfair trading has been provided,” Chaudhary said in his reply. Benchmark BSE Sensex had shot up 3.4 per cent to settle at a new closing peak on June 3 after exit polls predicted a resounding BJP victory in general polls.
