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Home > Business > PTI > Report
Sebi issues red alert
May 17, 2004 07:44 IST
The Securities and Exchange Board of India continued to be on high alert and has asked the stock exchanges to "remain extraordinarily watchful of any unusual movements" following the intense volatility in the capital market, which saw the Bombay Stock Exchange Sensex crash by a record 600 points in the trading week ended May 14.
"The stock exchanges have to report any unusual movement immediately to Sebi, in addition to taking action themselves," the market watchdog said in a release on Saturday.
Referring to the market movement and the Sensex fall of 329.6 points on last Friday, the regulator held a special surveillance meeting on that day to take stock of market movements and of the sharp decline on the last trading day of the week, in particular.
Sebi had called for Friday's data from the exchanges for analysis and examination and would take action against any individual or entity if found indulging in market misconduct and breach of rules, the release said.
"The market watchdog remains committed to protecting the interests of the investors and integrity of the markets," it added.
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