Angel One’s Dinesh Thakkar believes SEBI’s action against Jane Street will not derail India’s market momentum, which he says is driven by strong structural factors. He welcomed the crackdown for strengthening governance and transparency.

India's markets regulator has widened an investigation into alleged market manipulation by U.S. securities trading firm Jane Street to include other indexes and exchanges, a source familiar with the matter said.

India’s stock market regulator has banned Jane Street from dealing securities in the country, accusing the New York-based trading firm of a “sinister scheme” to manipulate derivatives markets. The Securities and Exchange Board of India said its decision to limit Jane Street’s access to India’s securities markets stemmed from a months-long investigation.