Market watchdog Sebi has decided to impose a penalty on trading members for modifying client codes for non-institutional trades. The exchange has been asked to credit such amounts to investor protection funds. Present regulatory norms allow a trading member to modify client codes post execution of the trade only to rectify a genuine error that had occurred while entering a client code. According to the Sebi circular, a trading member will have to pay a penalty of 2% of the value of the non-institutional trade if such trade accounts for more than 5% of the total turnover of non-institutional trades. Otherwise, the penalty would be lower at 1%.
Sensex slips 70 pts as investors book profit
Amid mixed cues from across the globe, especially Europe, and profit-booking by investors after the recent rally, the BSE benchmark index Sensex closed a tad lower on Tuesday. The 30-share BSE index fell 0.37%, or 69.92 points, to 18,744.56 points after starting higher, and 18 components lost ground. It had gained 1.9% in June, its first monthly gain in three. Meanwhile, the
50-share NSE index fell 0.3% to 5,632.10.
Religare allots 11,000 shares under ESOS
Religare Enterprises has informed BSE that the share allotment committee of the board of directors of the company, in its meeting held on Tuesday, has allotted 11,000 equity shares of the company on exercise of stock options under the employees stock option scheme 2006 (ESOS). The paid-up equity share capital of the company post allotment
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