Stock brokers want Sebi to shut down share markets during 21-day lockdown

MUMBAI : In a fresh request to Sebi, stock brokers association Anmi has urged the regulator to allow systematic closure of the stock markets till the nationwide lockdown remains in force. The move comes after members of Anmi, which represents over 900 brokers, raised concerns about their safety.

A 21-day nationwide lockdown is in force in the country to contain the spread of coronavirus pandemic.

In its letter to Sebi on Wednesday, Association of National Exchanges Members of India (Anmi) has shared concerns of trading members regarding their safety and pressure by family members to stay indoors because of coronavirusinfection.

The brokers’ association said it has also sought its members’ views on keeping share markets open considering the safety of staff and concern of family members.

“The members overwhelmingly expressed their opinion for share markets to be closed in a systematic manner, giving due notice to the investors,” the letter noted.

In view of the apprehensions expressed by members at large on account of health and safety concerns, Anmi has requested Sebi to “allow a systematic closure till the nation-wide lockdown remains in force”.

On Wednesday, Securities and Exchange Board of India (Sebi) wrote all states and Union Territories to exempt the staff of notified entities from the lockdown.

On Tuesday, Anmi had requested Sebi to close stock exchanges for at least two days, which will give brokerage firms time to close their entire outstanding positions, in case all states do not declare stock broking as an essential service.

This demand was made as stock brokers were facing problem in reaching their offices because of lockdown announced by state governments. PTI

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