New Delhi, March 3 -- Shares of BSE Ltd. fell over 5 percent in intra-day trading on Monday, March 3, after global brokerage Goldman Sachs reduced its target price on the stock. The brokerage firm cited concerns over proposed regulatory changes by the Securities and Exchange Board of India (SEBI) that could curb proprietary trading activity, which significantly contributes to BSE's trading volumes.

Goldman Sachs lowered its target price for BSE shares from Rs.5,650 to Rs.4,880, implying a limited upside of just over 5 percent from the previous close. Despite the downward revision, the brokerage maintained a neutral rating on the stock. The firm noted that nearly 70 percent of BSE's average daily turnover is driven by proprietary traders,...