FILE PHOTO: Bombay Stock Exchange (BSE) in Mumbai
| Photo Credit:
FRANCIS MASCARENHAS

BSE shares cracked 6.12 per cent due to profit booking on Friday and investors’ sentiment seemed to have startled following SEBI’s action on the US-based trading firm Jane Street.

The markets regulator SEBI barred Jane Street from the securities markets and directed the company to disgorge unlawful gains of ₹4,843.57 crore for allegedly manipulating index levels on expiry days to gain massive profits in index options.

Market experts flagged a decline in F&O business against this backdrop. BSE had been trading in a narrow range for the past 8 sessions, but in today’s session, buyers gave up their positions, leading to profit booking, Kunal Kamble, Sr. Technical Research Analyst at Bonanza, observed. 

Technically, the stock is now trading below the 9 and 21 EMAs, indicating that the minor trend has turned negative.

Structurally, the stock is forming a lower high, suggesting continued weakness in the secondary trend. On the momentum front, the RSI has slipped below 51, which reflects a loss of bullish momentum.

It may correct further toward the 50 EMA, placed around ₹2,550. A sustained move above ₹2,870 would be needed to rekindle short-term buying interest, Kamble added.

Shares of BSE Ltd traded 4.19 per cent lower at ₹2,702 on the NSE as at 10.53 am, hitting an intraday low of ₹2,647.30 against the previous close of ₹2,820.10.

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Published on July 4, 2025