SEBI on high alert
By Our Markets Bureau | 17 May 2004
It has threatened to take stern action against any individual or entity found indulging in market misconduct and breaching rules.
In a release on Sunday, SEBI said it continued to be on ``high alert'' and has asked the stock exchanges to report any unusual movements. It said it had called for data from the exchanges on Friday for analysis and examination.
In
what has been reported as the biggest single-day fall
in four years, the Sensex had taken a 330-point drubbing
on Friday. On that day, SEBI held a special surveillance
meeting to take stock of the market movements, particularly
the sharp decline on the last trading day of the week.
SEBI
officials said the meeting was routine and such stock-taking
took place whenever the markets witnessed sharp movements.