Street signs: Sebi ups its guard, HNI bets Indigo Paints IPO at risk & more

Sebi ups its guard

Sebi has stepped up its vigil on possible market manipulation — the trigger being the recent sell-off in the market, expected volatility on Budget Day, and the recent GameStop mania. Typically, stocks see huge gyrations on Budget day. “Sebi and exchanges are on the watch if social media platforms are being used to mobilise small investors to buy a particular scrip. Given the strict trading restriction a ‘short squeeze’ strategy is difficult to execute in India. But young investors could be encouraged towards buying a stock with little fundamental basis,” said an official.

Bearish near-term cues for Nifty

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