mumbai, Feb. 27 -- Two of India's most popular stock market indices-the Bank Nifty and the Bankex-may require a hard reset, as the regulator moves to reduce the risks of price manipulation and excess volatility.
The Securities and Exchange Board of India (Sebi) believes that the concentration of weights among the top few index constituents gives rise to "fears or risks of market manipulation and /or excessive market volatility" among market participants. The regulator proposed a set of measures in a consultation paper on Monday, seeking public comments through 17 March.
In terms of popularity in the derivatives segment, the Bank Nifty from NSE and Bankex from BSE, to a lesser extent, are next only to benchmarks like the Nifty and Sensex....