The National Stock Exchange of India Limited (NSE) issued a caution to investors and traders regarding unauthorized individuals offering stock market tips and guaranteed returns. One case involved an individual named ‘Nitin’ running a Telegram channel called ‘Everyday Power Of Stocks’, allegedly providing securities market tips and account handling services. Another flagged case was related to ‘Satendra Dubey’ associated with ‘Wealth Trading’, offering illegal trading services through various online platforms like websites, mobile apps, and social media.
The NSE emphasized that these individuals were not registered as trading members or authorized persons with any of its registered members. Investors were advised to be wary of schemes promising assured returns in the securities market, as such offerings are illegal. Additionally, investors were cautioned against sharing sensitive trading credentials with third parties.
The NSE recommended verifying details of registered brokers and authorized persons through its official ‘Know/Locate your Stock Broker’ facility on its website. It also warned that participating in unauthorized schemes posed risks to investors as they are not approved or endorsed by the exchange. Investors engaging in such activities may not have access to exchange-backed mechanisms for investor protection, dispute resolution, or grievance redressal.
Domestic equity benchmarks Sensex and Nifty traded 1% higher each in early trade on Friday.
