The benchmark equity indexes are expected to open largely flat on Friday as investors assess the market regulator’s move to bar US trading company Jane Street from the securities market over alleged manipulation.
The Gift Nifty futures was down 0.2% at 25,516 points, as of 8:14 a.m. IST, indicating that the Nifty 50 will hover around its previous close of 25,405.3.
The Securities and Exchange Board of India (SEBI) has passed an interim order on Jane Street’s alleged manipulation through positions taken in equities derivatives.
The regulator said in its order that Jane Street would no longer be able to participate in India’s stock market, and that it would “impound” the trading company’s 48.4 billion rupees ($566.71 million), which it said were the “unlawful gains earned” from the alleged misconduct.
SEBI’s actions come as half a dozen global trading firms, including Citadel Securities, IMC Trading, Millennium and Optiver, are ratcheting up their presence in India’s booming derivatives markets.
“While it may stir some immediate nervousness, it appears case-specific and is unlikely to prompt broader FPI unwinding,” said Kranthi Bathini, director – equity strategy at WealthMills securities.
Meanwhile, investors are awaiting a potential trade deal between India and the US ahead of President Donald Trump’s July 9 deadline for punitive reciprocal tariffs.
Other Asian markets fell on the day, while Wall Street equities and the dollar rallied after stronger-than-expected U.S jobs data indicated resilience in the labour market.
STOCKS TO WATCH
** Bajaj Finance posts a 15% rise in deposit book in June quarter to ₹72,100 crore; assets under management (AUM) rises 25%
** PC Jeweller achieves 80% revenue growth in June quarter and trims outstanding debts by 7.5%
** Marico says it posted a low-twenties percentage growth in consolidated revenue in the June quarter, aided by rural demand
** Bank of Baroda posts a 9.1% year-on-year growth in global deposits in the first quarter of fiscal 2026
Published on July 4, 2025