Mumbai, Aug 22: With the BSE-30 index on upsurge, an indicator of the market mood, Sebi has stepped up its surveillance to detect any market misconduct and cautioned small investors to take extra care while trading in less active scrips. "The regulator is keeping a close watch on the market developments and will take action against any misconduct," a senior Sebi official said on Thursday.
Asked if the market movements were being manipulated, he declined to comment, but said small investors should be careful while making investment in the scrips which trade less frequently.

"The market regulator has a responsibility to protect the integrity of the market and make investors aware about various kind of risks involved in stock investment", the official added.
A BSE spokesperson said Sebi was working in close collaboration with the exchange to monitor market activity and the surveillance mechanism "is in place to detect any misconduct”.
Last week, Sebi chairman GN Bajpai, while addressing an investors awareness programme in Bangalore, had cautioned investors on "shell" companies. "If you feel that a company does not have value in it, refrain from investing your hard earned money," Bajpai said. Bureau Report