Rahul Gandhi Accuses Modi Government of Ignoring F&O Market Manipulations

In a scathing critique on Monday, Leader of Opposition Rahul Gandhi lambasted the Modi government for allegedly facilitating market manipulations benefiting the wealthy at the expense of ordinary investors. Gandhi accused the government of being complicit in what he termed as significant 'manipulation' in the Futures & Options (F&O) market.

Using social media platform X, Gandhi reiterated his longstanding predictions, stating, 'I clearly stated in 2024 - the F&O market has become a playground for 'big players,' and small investors' pockets are continuously being drained.' He highlighted SEBI's recent acknowledgment of manipulations by hedge fund Jane Street, questioning SEBI's prolonged silence and the Modi government's awareness of these developments.

The Congress leader called for transparency from SEBI, demanding the disclosure of other potential market riggers. SEBI's recent actions against Jane Street, including a market suspension and seizing of gains, underscore critical lapses and raise alarm over broader market integrity issues. SEBI Chairman Tuhin Kanta Pandey reassured the public of limited residual risks.

(With inputs from agencies.)