U.S. trading firm Jane Street Group allegedly manipulated Indian equity indices by targeting over 40 constituent stocks of the Nifty 50 and Bank Nifty, deploying aggressive expiry-day strategies that netted massive gains, according to a Securities and Exchange Board of India (Sebi) order that barred the firm from Indian securities markets on Friday.
The market regulator’s order, running 105 pages, outlined how the proprietary trading firm executed high-volume trades to distort index levels, misleading other market participants and profiting from large index options positions. The firm and four of its affiliates have been barred from accessing Indian