SEBI intervention lifts Indian capital market stocks after CAS disruption
Indian capital market stocks jumped on Friday after SEBI stepped in to address problems with the Closing Auction Session (CAS) system.
The CAS, rolled out on August 3, had caused unpredictable settlement prices and sharp swings in option premiums, making traders uneasy and prompting SEBI to take action against two entities.
SEBI consultation paper awaited, stocks rally
Everyone's now waiting for SEBI's upcoming consultation paper, expected within a week, which should suggest fixes to make settlement pricing fairer and restore trust.
The Nifty Capital Markets index rose 1% to 5,420. Top performers included Angel One (+4.8%), MCX (+3.3%), BSE (+3.1%), Motilal Oswal Financial Services (+2.4%), and Groww (+2.2%).
Analysts think these changes could help bring back trading volumes and confidence in the market.