BSE, other capital market plays rise up to 3% on Sebi's conditional nod to Jane Street

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26 Aug, 2025 12:21

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The shares of listed wealth management, broking firms and market intermediaries extended gains on July 22 after regulator Sebi confirmed that earlier restrictions imposed on Jane Street have now been removed with conditions.

The sharp rise in the share prices pushed the Nifty Capital Markets index up over half a percent to hover around 4,701 in early trade, extending gains for a second consecutive session.

In a statement issued on July 21, Sebi said that Jane Street entities have been directed to cease and desist from directly or indirectly engaging in any fraudulent, manipulative or unfair trade practices or undertaking any activity that may be in breach of regulatory norm.

Stock Exchanges have been directed to closely monitor any future dealings and positions of Jane Street Group, until Sebi completes its investigation. The market regulator said the exchanges have confirmed compliance with these rules.

Angel One and Nuvama Wealth Management shares gained nearly 3 percent each to trade at Rs 2,782 apiece and Rs 7,824 apiece respectively. Notably, Nuvama is Jane Street’s domestic trading partner in India.

The shares of Bombay Stock Exchange (BSE) gained nearly 2 percent to trade at Rs 2,563 apiece. The shares of the stock exchange tumbled nearly 8 percent in the past one month, after Sebi restrained Jane Street from participating in the Indian stock market. This came after a 33 percent surge in the past six months.

UTI AMC and Indian Energy Exchange (IEX) shares gained over 1 percent each, while CDSL, Multi Commodity Exchange (MCX) and Motilal Oswal Financial Services rose nearly 1 percent. Aditya Birla Sun Life AMC, Kfin Technologies and other capital market stocks were trading in the green with marginal gains.

Also read: Our LIVE on stock market updates

Sebi had taken strict actions against Jane Street during the previous month, amid allegations that the firm manipulated Bank Nifty and Nifty, by exploiting specific trading patterns. SEBI conducted an investigation into trades between January 2023 and May 2025.

The watchdog alleged that, on some occasions, the Jane Street entities bought heavily in cash and futures in the morning and heavily sold options in the afternoon, thereby creating deception for common traders.

Based on the initial investigation, Sebi suspects that the Jane Street entities made an illegal gain of Rs 4,843.5 crore, and subsequently the regulator directed Jane Street entities to deposit the amount in an escrow account, which Jane Street has complied with.