Add-on Price Band Rules: The Mumbai Stock Exchange itself is in doubt

Irresponsible attitude of BSE: Withdrawal in new add-on price band rules of stocks within 3 hours

(By delegate) MUMBAI: Shares of Asia's oldest Bombay Stock Exchange (BSE) have taken an irresponsible stance in the wake of a surprise decision to plunge investors into small, mid-cap and cash stocks and reverse the decision in four hours.

Despite the implementation of the Allready Priceband Circuit Rules on the BSE, the implementation of the new priceband rules overnight has had a profound repercussion on the market itself, with investors turning away from the stock market and closing the market.

With the lack of transparency in the decision to reverse the decision on Wednesday to introduce a new price band framework for stocks of companies listed on the BSE on Monday, the capital market regulator SEBI has asked Mumbai Police to look into the matter. -Deported by Economic Offenses Wing (EOW) and Crime Branch.

BSEA-11, which kept investors in the dark by not mentioning in the circular dated August 6, 2021, about which group of stocks the new framework will be applicable to, has changed the framework radically. Y Group Securities has clarified the application of this framework. Thus, by changing the rules in 8 hours, he has made it clear that his decision is irresponsible.

According to the discussion in the market, first of all, for such drastic decisions, it is necessary to tighten the reins on the exchanges and impose restrictions. If there is any such mischievous proposal after the market closes on Friday, its agenda should be announced in the major newspapers with details and the announcement should be accompanied by a meeting seven days later. With ...!

In addition, the BSE should issue another press release stating who was present at the meeting to decide. The stock exchange should publish a report on the transparency of the rank and file of the officers present at the meeting.

In this complete case, on Tuesday, August 10, 2021 and Wednesday, August 11, 2021, two days in a mysterious place in a mysterious place, who broke the circle should be investigated in detail by the SEBI Economic Offenses Wing (EOW) and Crime Branch.

New investors who have joined the stock market in the last one year, who have lost their jobs or businesses due to covid Scale protests are reported to have taken place.