Your debate (‘Should short selling be banned?’, October 15) was timely, but both commentators addressed different points. If the F&O market gives depth and reduces volatility, then it should not be disturbed. If day trading causes unacceptable swings, it should be curtailed.
We need a Sebi paper to detail the actual advantages and disadvantages of day trading and the futures market. We should also look at reducing the circuit filters in keeping with the fact that they were designed when the index was much lower.
Today’s filters, when combined with a higher index value, offer a very wide range for price fluctuations.
Sudhir Saxena, Kolkata
