BSE Ltd shares fell by approximately 4-5% after the exchange was placed under Stage 1 of the Additional Surveillance Measure (ASM) framework by the Securities and Exchange Board of India (SEBI) on June 11, 2025. This regulatory action was taken due to unusual price volatility, with BSE's stock having surged about 116% over the past three months. The ASM framework is designed to monitor and regulate trading activity to curb volatility and deter speculative trading by imposing stricter rules such as a 5% daily price movement limit. Additionally, BSE's option premium volumes declined to ₹10,824 crore over the past five days from ₹15,865 crore in April–May, a trend analysts link to SEBI's crackdown on hedge funds. The move aims to caution investors and stabilize trading in BSE shares amid recent sharp price movements.