Market update: Sensex, Nifty see decline, SEBI’s rumor verification measures in focus

The Friday morning market opened with a decline, following the positive start earlier in the week. NSE Nifty was down by 0.21 per cent, or 46.55 points, at 21,732, while the BSE Sensex was at 72,229.87, down by 0.24 per cent or 178 points.

A total of 3,089 stocks were actively traded, with 1,852 advancing, 1,145 declining, and 92 remaining unchanged at 10 am on Friday. Additionally, 169 stocks reached a 52-week high and 10 stocks reached a 52-week low.

Makarand M Joshi, Founder of MMJC & Associates, a corporate compliance firm, shared insights on the Consultation Paper on Amendments to SEBI Regulations regarding the verification of market rumours. He clarified, “SEBI’s proposal on the verification of market rumours would help bring parity to the markets. The new initiative, primarily aimed at price protection, introduces a mechanism to mitigate the impact of speculative rumours or media discussions on stock valuations before official company announcements.”

  • Also read: Index Outlook: Nifty 50, Sensex: Uptrend is intact

SEBI’s proposals ensure that if market movements are influenced by unofficial information, the period during which this information is confirmed by the company will be excluded from the share valuation formula. 

Essentially, what began as a measure for rumour verification and investor protection has evolved into a complementary framework certifying the legitimacy of market deals. These proposals by SEBI would help curtail mischiefs played with respect to market rumours.”

Top gainers on the NSE at 10 am include Tata Consumer Products Ltd (3.23 per cent), Tata Motors Ltd (2.14 per cent), Eicher Motors Ltd (1.22 per cent), Maruti Suzuki India Ltd (0.70 per cent), and Sun Pharmaceutical Industries Ltd (0.42 per cent).

Top losers on the NSE at 10 am include Bharat Petroleum Corporation Ltd (-2.22 per cent), Kotak Mahindra Bank Ltd (-0.90 per cent), State Bank of India (-1.03 per cent), Apollo Hospitals Enterprise Ltd (-1.02 per cent), and Power grid corporation of India Ltd (-0.96 per cent).

The BSE SmallCap was up by 0.31 per cent and the MidCap was up by 0.22 per cent, indicating gains.

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