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Sebi probes stocks fall, to review margins

The Securities and Exchange Board of India (Sebi) has begun a probe into last week's fall in Indian stock markets and will reconsider volatility margins, a top official said on Monday.

Sebi is looking into the role of certain brokers who might have influenced Friday's 4.13 per cent plunge in the bellwether 30-issue Sensex, L K Singhvi, senior executive director, said.

The brokers whose transaction details have been sought by the market regulator include Credit Suisse First Boston, Morgan Stanley, C Mackertich, Radhakishan Damani, Nirmal Bang and First Global, officials said.

Sebi has started a meeting to review volatility margins, Singhvi said.

A market-friendly federal budget on Wednesday boosted the Sensex 7.8 per cent to a peak of 4,386.98 on Thursday from its close on Tuesday, but ended the week at 4,095.16 points, down 0.65 per cent.

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