Yesterday, out of the blue, SEBI changed some FnO guidelines, and so 51 scrips in FnO segment have become ineligible for trading.
http://www.thehindubusinessline.com/markets/article3675286.ece
This will shrink FnO space by more than 20% overnight. So no leverage, no options and no short-selling in these 51 scrips. This is like a big slap on the face of professional traders who mostly trade only in FnO to take advantage of leverage. How unprofessional and anti-business can SEBI get? Imagine somebody who has devoted years to build a career as a trader, broker, tips provider or financial consultant, and suddenly market for him his made to shrink by 22-23%. What a joke by SEBI...This is like you devote years to start a restaurant, and overnight government raises service taxes by 20%??
This is not the first time SEBI is showing this unprofessional attitude. Some months ago, they raised minimum investment in Portfolio Management Services to Rs. 25 lakh from Rs. 5 lakh, in one shot, overnight. Minimum value raised to 500%, that too overnight? Are there only bunch of fools sitting inside SEBI? Again, this sudden change of rules would have destroyed years of hard work of some people. Getting clients with 5 lakhs is easy, but how do you a single client of 25 lakh? Why these things are not clarified and mentioned originally?
This anti-business attitude of SEBI just shows a bigger malaise that is present in India. These idiot bureaucrats and politicians dont understand that these things are a drag on business activity resulting in greater unemployment and distress. No wonder businesses are fleeing India, GDP is going downhill and there is very little hope!
Personally am quite distressed with my market shrinking overnight. When I started trading, I read nowhere that rules would be changed overnight. Rules cant be changed in such an arbritrary fashion. This is illegal and only happens in India. But what to do..?
http://www.thehindubusinessline.com/markets/article3675286.ece
This will shrink FnO space by more than 20% overnight. So no leverage, no options and no short-selling in these 51 scrips. This is like a big slap on the face of professional traders who mostly trade only in FnO to take advantage of leverage. How unprofessional and anti-business can SEBI get? Imagine somebody who has devoted years to build a career as a trader, broker, tips provider or financial consultant, and suddenly market for him his made to shrink by 22-23%. What a joke by SEBI...This is like you devote years to start a restaurant, and overnight government raises service taxes by 20%??
This is not the first time SEBI is showing this unprofessional attitude. Some months ago, they raised minimum investment in Portfolio Management Services to Rs. 25 lakh from Rs. 5 lakh, in one shot, overnight. Minimum value raised to 500%, that too overnight? Are there only bunch of fools sitting inside SEBI? Again, this sudden change of rules would have destroyed years of hard work of some people. Getting clients with 5 lakhs is easy, but how do you a single client of 25 lakh? Why these things are not clarified and mentioned originally?
This anti-business attitude of SEBI just shows a bigger malaise that is present in India. These idiot bureaucrats and politicians dont understand that these things are a drag on business activity resulting in greater unemployment and distress. No wonder businesses are fleeing India, GDP is going downhill and there is very little hope!
Personally am quite distressed with my market shrinking overnight. When I started trading, I read nowhere that rules would be changed overnight. Rules cant be changed in such an arbritrary fashion. This is illegal and only happens in India. But what to do..?
