Ever since the current market rally has started, the Securities and Exchange Board of India (Sebi) has been working overtime to ensure stability in the market.
To be sure, some of its initiatives have not gone down well with players, as it is seen as playing the spoil sport. But the fact remains that the market regulator has the responsibility to maintain orderly conditions in a bull market, just as it does in a bear market.
Taking a proactive approach, Sebi has been able to bear upon the exchanges to take effective measures to curb volatility or, at least, put volatile stocks under strict scrutiny.
Over the last fortnight, the various exchanges have moved almost 500 scrips into a separate trading category wherein all trades have to be compulsorily settled in cash, and cannot be netted out This categorisation puts them firmly under the exchange
