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Financial Technologies (India) and Multi Commodity Exchange of India (MCX) are trading lower by up to 5% each after Jignesh Shah, the promoter of these companies, was arrested by the Economic Offences Wing (EOW) of the Mumbai Police in connection with the National Spot Exchange (NSEL) scam.
Financial Technologies (India) is locked at the lower circuit of 5% at Rs 276 on the NSE. At 0920 hours, a combined 23,703 shares have changed hands on the counter and there are pending sell orders for 293,000 shares on the BSE and NSE.
MCX is down 4% at Rs 515 on the NSE. The stock had opened at Rs 494 and touched a low of Rs 482 so far.
EOW said this would not be the last set of arrests in the NSEL scam and brokers could be next in line as their role was also being examined, the Business Standard report suggests.
Meanwhile, FTIL has called a board meeting on Thursday to decide on the future course of action.
Financial Technologies (India) is locked at the lower circuit of 5% at Rs 276 on the NSE. At 0920 hours, a combined 23,703 shares have changed hands on the counter and there are pending sell orders for 293,000 shares on the BSE and NSE.
MCX is down 4% at Rs 515 on the NSE. The stock had opened at Rs 494 and touched a low of Rs 482 so far.
EOW said this would not be the last set of arrests in the NSEL scam and brokers could be next in line as their role was also being examined, the Business Standard report suggests.
Meanwhile, FTIL has called a board meeting on Thursday to decide on the future course of action.
