MCX slides after Jignesh Shah's arrest

Tags: Stock Market
Multi Commodity Exchange of India Ltd (MCX) falls 4.4 percent after earlier hitting its lowest since March 14 because of uncertainty over shareholder Financial Technologies (India) Ltd's ongoing stake sale.

Financial Technologies is in the midst of selling its 26 percent stake in MCX, but traders cite concerns about the process after the chairman of the Indian bourse operator, Jignesh Shah, was arrested by police on Wednesday as part of an investigation of fraud at another commodity exchange.

Financial Technologies (India) Ltd slumps 5 percent, or its daily lower limit.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Exchange managements must distinguish between speculation and gambling

    Every bull run in the Indian equity market raises the spectre of excessive speculation.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Roopen Roy

Building smart cities the Indian way

Today more than half of the world’s population lives in ...

Zehra Naqvi

The mere display of power is not success

The stars are not afraid to appear like fireflies —Rabindranath Tagore ...

Dharmendra Khandal

Let the tiger breathe in its natural home

The world has been observing July 29 as International Tiger ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture