For Nuvama, Jane Hit Sentiment

Nuvama Wealth Management Ltd's shares recovered slightly on Monday, but are still down 8% from Thursday's close of ₹18,175.50 apiece as it became a casualty of the Jane Street saga.

- Manish Joshi

Jane Street is a US-headquartered trading firm present in equity and derivatives markets in India. It is accused of manipulating cash market prices to make multifold gains in options that are far higher than its cumulative losses in cash and futures segment.

There is a fear that the Securities and Exchange Board of India's (Sebi's) action could cut trading volumes, which led to losses in share prices on Friday of other capital market plays such as Angel One Ltd and BSE Ltd. But Nuvama Wealth is attracting more attention as it was reportedly acting as the broker for Jane Street.