Sebi looking into trend in bank scrips

After the government entrusted the market regulator to look into the volatile trend in public sector bank scrips, Sebi on Monday said it was looking into the matter and will come out with a report. ‘‘ We will come out with a report,’ Sebi chairman G.N. Bajpai told PTI after meeting new Finance secretary D.C. Gupta. However, he did not specify when Sebi would submit the report to government. Earlier, Finance Minister Jaswant Singh asked Sebi to study the trading pattern in these stocks and urgently submit a report. ‘‘I am disappointed with what has happened with banking stocks and have already asked Bajpai to look into it and urgently report’’, Singh said.

Scrips of PSU banks have been witnessing volatility in the last few days, especially in those stocks where banks have announced their plans to return equity to the government.