SEBI temporarily bans 2 brokers for Sensex closing auction manipulation
SEBI has temporarily banned Copthall Mauritius Investment and Mansi Share and Stock Broking from the stock market after SEBI alleged manipulation during the Sensex Closing Auction Session on August 13.
Both firms allegedly made aggressive orders to nudge prices in their favor, pocketing unfair gains tied to expiration-day options.
Brokers must deposit 3.68 cr
Investigators noticed sudden spikes in the Sensex, some as high as 405 points within seconds, with Copthall behind most of the big buy orders, which were later canceled.
Mansi Share and Stock Broking also placed large sell orders below normal prices before pulling them back.
SEBI says together they made about ₹3.68 crore in wrongful profits, which now have to be handed over and kept in fixed deposits.
The move is part of SEBI's push to keep trading fair for everyone.