Angel Ones Dinesh Thakkar believes SEBIs action against Jane Street will not derail Indias market momentum, which he says is driven by strong structural factors. He welcomed the crackdown for strengthening governance and transparency.

India's markets regulator has widened an investigation into alleged market manipulation by U.S. securities trading firm Jane Street to include other indexes and exchanges, a source familiar with the matter said.

India has barred Jane Street from the country’s financial markets and said it would seize around $570 million that the U.S. securities firm made from allegedly fraudulent trades.