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News Topical, Digital Desk : The whistleblower said that all this manipulation started from July 2023, when efforts were being made to keep the expiry in a strict range. He told that he himself had noticed the collusion happening during expiry, which had a direct impact on big indexes like Nifty.
The pattern saw an increase from April 2024. This conspiracy was first seen in the expiry of midcap stocks, where abnormal fluctuations started. This pattern continued continuously and it saw an increase from April 2024. Meanwhile, the whistleblower informed SEBI about this irregularity through email, to which SEBI also responded immediately, but Jane Street continued its pattern of manipulation despite this. On January 17, 2024, its big impact was seen on Bank Nifty, where the pattern shook the market. On the same day, sudden movement was also seen in the Nifty index, which made market participants suspect irregularities. This whole game started with the Midcap Select Index, but later its effect reached the Largecap. The whistleblower says that this entire process is against the rules and will be considered illegal under the SEBI Act. Jane Street deliberately ignored the rules and affected the market by creating artificial fluctuations in expiry.
What is the whole matter The Jane Street case is a major scam that has recently surfaced in the Indian stock market, in which US trading firm Jane Street is accused of manipulating Indian stock indices and making illegal profits. SEBI has accused Jane Street of manipulating major indexes like BANK NIFTY and NIFTY50. The company bought large amounts of banking stocks and futures, artificially increasing the value of the index. After this, Jane Street made a profit by taking short positions in options, causing huge losses to retail investors.
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