The Telegraph
Since 1st March, 1999
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Market rally prompts Sebi to step up surveillance

Mumbai, Aug. 21 (PTI): With the BSE-30 index on a high, the market regulator has stepped up its surveillance to detect any market misconduct and has cautioned small investors to take extra care while trading in less active scrips.

“The regulator is keeping a close watch on the market developments and will take action against any misconduct,” a senior Sebi official said here today.

He declined to comment if the market movements were being manipulated but said small investors should be careful while making investment in less traded scrips.

“The market regulator has a responsibility to protect the integrity of the market and make investors aware about various kind of risks involved in stock investment,” the official added.

A BSE spokesperson said Sebi was working in close collaboration with the exchange to monitor market activity and the survelliance mechanism “is in place to detect any misconduct”.

Last week, Sebi chairman G. . Bajpai had cautioned investors on “shell” companies. “If you feel that a company does not have value in it, refrain from investing your hard earned money,” Bajpai had said.

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