The National Stock Exchange (NSE) on Monday cautioned investors against two persons offering illegal 'dabba' trading in the stock market. 'Dabba' trading is an illegal form of trading in shares, where operators of such trading rings allow people to trade in equities outside the stock exchange platform. The cautionary statements came after NSE found that Nitin Shantilal Nagda and Narendra V Sumaria were providing 'dabba' trading. These persons were registered with a trading member (TM) as an authorised person (AP) and the said association as an AP was subsequently cancelled by the TM. Cautioning investors, NSE asked them not to subscribe to any such scheme or product offered by any person providing illegal 'dabba' trading activity in the stock market as the same is prohibited by law. "Investors are cautioned and advised not to trade on such illegal trading platforms. Participation in such illegal platforms is at the investor's own risk, cost and consequences as such illegal tradin
The Association of National Exchanges Members of India (Anmi) has called on the NSE to immediately modify the message, following which the exchange has reworded its investor alert