New Delhi, March 4 -- Shares of BSE Ltd surged almost 5 percent in intra-day trading on Tuesday, snapping a six-session losing streak. The stock had declined nearly 27 percent over the past six sessions, weighed down by legal uncertainties and regulatory concerns.

The sharp losses came after a Mumbai court directed authorities to file a First Information Report (FIR) against former SEBI chairperson Madhabi Puri Buch, two BSE officials, and others over alleged irregularities in granting listing permissions to a company in 1994. Meanwhile, concerns over proposed regulatory changes by SEBI have also contributed to the stock's volatility.

The FIR pertains to an application seeking an investigation into alleged listing irregularities involvi...