SEBI issues ex-parte interim order over Sensex expiry market manipulation

SEBI examined abnormal price spikes and trading patterns to determine if the market was manipulated.

Who it concerns: Copthall Mauritius Investment Limited, Mansi Share and Stock Broking Private Limited

What SEBI found or ordered

• SEBI observed three significant price spikes in the Sensex Indicative Equilibrium Price (IEP) during the CAS on August 13, 2026, including a 362.02-point rise in 2 seconds and a 405.08-point rise in 28 seconds.
• Copthall Mauritius Investment Limited accounted for 86.6% of the gross buy value in Sensex constituents during the CAS.
• Mansi Share and Stock Broking Private Limited cancelled 99.06% of its sell orders (12,65,000 out of 12,77,000 shares).
• Copthall cancelled 32.79% of its buy orders (10,38,201 out of 31,66,651 shares).
• SEBI calculated 'wrongful gains' for both entities, though the specific monetary amounts are not detailed in the provided text excerpt.
• The order is issued under Sections 11(1), 11(4), and 11B(1) of the SEBI Act, 1992.

Also in the document

• The order is 'ex-parte' and 'interim,' meaning it was passed without the noticees being present and is not a final judgment.
• One of the entities involved, Copthall Mauritius Investment Limited, is a cross-border entity based in Mauritius.
• The incident occurred on a Sensex weekly expiry day, where the closing price directly impacts the settlement of derivative contracts.