Sebi Probe into Jane Street to Cover All Indices

Current order based on probe into just three — HDFC, ICICI and Kotak Bank — which constitute 65% of index weightage

- BENN KOCHUVEEDAN @ Mumbai

CAPITAL markets watchdog Securities Exchange Board of India (Sebi), which has debarred Jane Street Group from accessing the securities markets and also impounded ₹4,843 crore of illegal gains from manipulation of the Bank Nifty index, is probing the other indices apart from both the exchanges.

As per the Sebi sources aware of the ongoing probe, the current "interim order is based on the probe into just three— HDFC Bank, ICICI Bank and Kotak Bank, which constitute as much as 65% of the index weighting—of the 12 Bank Nifty stocks and that for a more meaningful and conclusive outcome the Sebi is continuing to probe trading patterns in other nine Bank Nifty stocks, as well as all other indices."