SEBI, Bourses Enhance Vigil After Gujarat Exit Polls
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 today indicated a clear majority for the ruling BJP in Gujarat.
With the second and final round of polling ending today, exit polls today 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 tomorrow.
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 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 Dec. 18, when the results of Gujarat and Himachal Pradesh elections would be declared.
Poll results would start coming in during trading hours on Dec. 18. Typically, manipulators tend to exploit such volatile situations in the stock market.
'Dabba' trading or unauthorised trading activities are already active in Gujarat.