Chapter-9 Offences Relating to Insider Trading in Securities and Transactions of Securities and Punishment

Section 96: To affect stock exchange

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If any person individually or in association with others commits any of the following acts to affect directly or indirectly the transaction in securities, such a person shall be deemed to have affected the
stock exchange:

(a) To increase the market price of securities issued by any company with the intent to encourage others to purchase or sell the securities or to avoid the purchase or sale of such securities,

(b) To decrease the market price of securities issued by any company with the intent to encourage others to purchase or sell the securities or to avoid the purchase or sale of such securities,

(c) To stabilise the market price of securities issued by any company with the intent to encourage others to purchase or sell the securities or avoid the purchase or sale of such securities.

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Section 96: To affect stock exchange

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