Economy
Kirit Somaiya Demands Probe into Sensex's Volatile August 27 Swings
Moneycontrol2h
THE BRIEF
1
Former MP Kirit Somaiya has formally requested an investigation into the extreme market volatility observed on the Sensex on August 27.
2
The request follows reports of a new closing-auction system causing wild price swings, with some traders claiming massive returns in minutes.
3
SEBI is currently reviewing the mechanism, which was intended to improve end-of-day price discovery but has instead triggered concerns over market stability.