INDIA STOCKS-Indian shares to open flat after regulator bars Jane Street from local market

ReutersJul 4, 2025 3:11 AM

July 4 (Reuters) - India's benchmark equity indexes are expected to open largely flat on Friday as investors assess the market regulator's move to bar U.S. trading company Jane Street from the local securities market over alleged manipulation.

The Gift Nifty futures GIFc1 was down 0.2% at 25,516 points, as of 8:14 a.m. IST, indicating that the Nifty 50 .NSEI will hover around its previous close of 25,405.3.

The Securities and Exchange Board of India (SEBI) has passed an interim order on Jane Street's alleged manipulation through positions taken in equities derivatives.

The regulator said in its order that Jane Street would no longer be able to participate in India's stock market, and that it would "impound" the trading company's 48.4 billion rupees ($566.71 million), which it said were the "unlawful gains earned" from the alleged misconduct.

SEBI's actions come as half a dozen global trading firms, including Citadel Securities, IMC Trading, Millennium and Optiver, are ratcheting up their presence in India's booming derivatives markets.

"While it may stir some immediate nervousness, it appears case-specific and is unlikely to prompt broader FPI unwinding," said Kranthi Bathini, director - equity strategy at WealthMills securities.

Meanwhile, investors are awaiting a potential trade deal between India and the U.S. ahead of President Donald Trump's July 9 deadline for punitive reciprocal tariffs.

Other Asian markets fell on the day, while Wall Street equities and the dollar rallied after stronger-than-expected U.S jobs data indicated resilience in the labour market. MKTS/GLOB

STOCKS TO WATCH

Bajaj Finance BJFN.NS posts a 15% rise in deposit book in June quarter to 721 billion rupees; assets under management (AUM) rises 25%

PC Jeweller PCJE.NS achieves 80% revenue growth in June quarter and trims outstanding debts by 7.5%

Marico MRCO.NS says it posted a low-twenties percentage growth in consolidated revenue in the June quarter, aided by rural demand

Bank of Baroda BOB.NS posts a 9.1% year-on-year growth in global deposits in the first quarter of fiscal 2026

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