Markets watchdog Sebi today said the stock exchanges are prepared to deal with any irregularity in trading tomorrow, when the results for the 2014 Lok Sabha elections are to be announced. Sebi Chairman UK Sinha told reporters on the sidelines of an Assocham conference in Mumbai that SEBI assures investors that it is prepared for any eventuality and if anyone indulges in any irregularity in the market. He added that Sebi along with the Reserve Bank of India and the government has prepared a strategy for any unusual market movement and also conducting stress-tests for markets on a daily basis.In the last two elections, stocks had reacted sharply after results were announced, triggering circuit-breakers. Similarly, Sensex hit the upper circuit within 30 seconds of the market opening for the first time after the results were declared in 2009, and trading was halted for two hours. The indices again hit the upper circuit within minutes of the markets re-opening, and trading was called off for the day.
News On AIR | May 15, 2014 6:09 PM
Sebi: Stock exchanges prepared for volatility in trading tomorrow