Stock exchanges have issued guidelines to identify “material price” movement for top 250 companies by market value to verify market rumours after the recent mandate by the Securities and Exchange Board of India.
On Tuesday, Sebi issued guidelines for mitigating the impact on stock prices due to market rumours, requiring a listed entity to confirm, deny, or clarify any media reported information that leads to a ‘material price’ movement of the shares.
The guidelines issued by the exchanges apply only if the price movement is in the direction of the news, and need to be benchmarked against the respective key indices. Further, the percentage variation in share price and the benchmark index movement are to be calculated from the closing price of the immediate preceding trading day.
Gold, silver rate today on August 29 in Mumbai, Delhi, Chennai, Kolkata: Here are latest prices of your city Stock Market Live: Markets open flat! Nifty holds 25,000, Sensex over 81,800; Media and FMCG stocks shine Will Nifty continue to hold 25,000 on Thursday? See GIFT Nifty, FII data, F&O, crude, and more before market opens Stocks To Watch: Reliance Industries, Vodafone Idea, Zomato, Wipro, InterGlobe Aviation