Jane Street effect: Nuvama shares slump 7% after Sebi order. What's the connection?

Shares fell as investors reacted to SEBI’s crackdown on Jane Street, with whom Nuvama is linked as a domestic trading partner.

SEBI’s order didn’t name Nuvama, but its past role in executing Jane Street’s trades raised red flags among investors.

Nuvama had earlier responded to NSE’s probe into Jane Street, but SEBI proceeded independently with stricter action.

Despite lack of allegations, Nuvama’s association triggered panic selling, highlighting risks of global tie-ups in sensitive trades.