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Sebi plans to put in place cyber security framework for stock brokers

Sebi is planning to come out with a cyber security framework for stock brokers that will help in reducing the impact of potential risks by cyber fraud, data leaks and hacking of trading accounts, a top official said on Wednesday.

The framework, aimed at protecting stock brokers as well as their clients, would include measures, tools and processes that are intended to prevent cyber-attacks and improve cyber resilience, Association of National Exchanges Members of India (ANMI) President Kamlesh Shah told PTI here.

The move is part of the capital markets regulator’s investors safeguard mechanism.

Share Market Close: Indices end in the flat-to-positive territory on Wednesday with Sensex closing just below 62,000.

Metal, Media and Realty tanked the most. Among stocks, Adani Ports, Apollo Hospitals and Hindalco lagged. Kotak Bank and Dr Reddy’s climbed. Bikaji Food and Medanta debuted strongly.

Geopolitical factors played a role in today’s session with Japan closing with minor gains, while China shedding.  European markets were also trading lower in the morning.

Indices had a lukewarm day with Sensex adding around 100 points and Nifty closing flat.

In a day marred by volatility, Indian indices ended the day in the flat-to-positive territory. Sensex breached the 62,000 mark intraday but settled just below the mark which is a new closing high for the index.

Sensex added 107 points to close 20 points shy of 62,000, at 61,980. Nifty managed to add just 6 points to close at 18,409.

Most sectoral indices ended in the red on Wednesday with Metal, Media and Realty shedding the most, while Bank and IT indices remained strong.

Apollo Hospitals, Adani Ports, Hindalco, and Bajaj Finance dropped the most. Kotak Bank added 2.5%, while Coal India a little over 1%. HDFC and HUL also had decent gains.

Meanwhile, Bikaji Foods and Global Health (Medanta) had a strong debut at the bourses.

Investors across kept a close eye on the Ukraine-Russia war situation with Poland reportedly being hit by Russian missiles. Washington later said that the missiles were unlikely to be out of Russia.

Tokyo’s key Nikkei index rebounded from earlier losses to end higher with investors somewhat reassured after Washington said it was “unlikely” a missile that hit Poland was fired from Russia. The benchmark Nikkei 225 index closed up 0.14%, while the broader Topix index edged down 0.05%.

Chinese and Hong Kong shares fell on Wednesday as concerns grew about rising COVID-19 cases in China. China’s benchmark CSI300 Index closed down 0.8%, while the Shanghai Composite Index lost 0.5%. Hong Kong’s Hang Seng Index declined 0.5%.

European shares opened marginally lower on Wednesday with Mercedes Benz Group leading losses in automobiles stocks, while a blast in Poland kept sentiment subdued and pushed up defence stocks. The pan-European STOXX 600 index dipped in the morning session.

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