Jane Street Connect: Nuvama Shares Slide After SEBI Crackdown
The Angel One stock tanked 7.3% while Nuvama fell 6.8% intraday.
Shares of prominent Indian brokerages Angel One Ltd. and Nuvama Wealth Management Ltd. fell during early trading on Friday after the markets regulator, SEBI passed interim order to bar US high-frequency trader from the Indian securities market.
NDTV Profit has learnt that Jane Street and its entities are said to be the client of Nuvama, and operates through the broking firm of the domestic capital market firm. The brokerage did not want to comment on the proceedings.
Jane Street is not a client of AngelOne, said a person aware of the matter.
Angel One released its first quarter update. The average daily notional turnover in F&O declined 19% during the quarter, according to disclosure to the stock exchange. Client base rose 31.3% in Q1FY26 on a year-on-year to 32.47 million.
The Securities and Exchange Board of India barred Jane Street Group entities from accessing the Indian securities market and directed the impounding of Rs 4,843.57 crore in alleged unlawful gains from the group.
According to SEBI’s order, Jane Street earned Rs 43,289.33 crore in profits through trading in index options on Indian exchanges between Jan. 1, 2023, and March 31, 2025.
The market regulator passed the order as part of enforcement action. It applies to all Jane Street Group entities operating in India and restricts their ability to trade or participate in any market-related activity.
The Angel One stock plunged 7.3% to Rs 2,734, the lowest since May 16. The total traded volume was 3.9 times the 30-day average. The relative strength index was 41.
Nuvama fell 6.8% intraday to Rs 7,621 apiece. The total traded volume was four times the 30-day average, and the relative strength index was 56.
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Jane Street Disputes SEBI’s Interim Order On 'Unlawful' Rs 4,843 Crore Profit — Read Statement
Jane Street Group disputed the findings of SEBI's interim order and intends to engage further with the regulator.
“Jane Street disputes the findings of the SEBI Interim Order and will further engage with the regulator. Jane Street is committed to operating in compliance with all regulations in the regions we operate around the world,” a company spokesperson said in an emailed response to NDTV Profit.
Read the NDTV Profit explainer on how Jane Street tricked Indian markets to make $5 billion in options profit.
