The Hindu Business Line : It's business as usual in F&O segment

Chennai June 20 Despite SEBI's "cease and desist" order against 15 brokers and 10 clients/entities it was business as usual in the futures & options segment. Trading volumes in the F&O segment today surged to Rs 40,460 crore against Tuesday's Rs 34,475 crore and number of contracts traded improved to 15.46 lakh contracts (14.65 lakh contracts).

However, volumes declined in the case of index both in futures and options - turnover on Nifty future dipped to Rs 10,205 crore (Rs 11,890 crore) and on options to Rs 5,300 crore (Rs 5,536 crore). On the other hand, single stock futures saw sharp surge in turnover at Rs 24,974 crore (Rs 18,916 crore).

According to brokers, the order is unlikely to impact trading, as the proportion of unfair trade is miniscule.

Mr Arun Kejriwal of KRIS Securities said the trading did not get affected because the order does not ban trading by these broking houses. It rather warned these entities to `desist' from doing these kinds of trades, he added.

Market regulator on Tuesday asked 15 stock broking firms, including Indiabulls, and 10 other entities to desist from violating SEBI code on F&O trading.

Meanwhile, Indiabulls Securities Ltd clarified that it was not involved in any fake trading or price fixing. A clarification issued to the BSE said that of the 23 trades that were mentioned, 17 were done by clients through Internet trading and Indiabulls Securities is in the process of issuing notices and taking strict measures against these clients.

Investors too were unfazed by the SEBI order. The stock of Indiabulls Financial Services stock closed higher by over 2 per cent at Rs 557.55 (Rs 546.30) on the NSE with improved volumes.

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