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In the past, it was noticed that through bulk SMSes, investors were induced to invest in or purchase the stocks of certain listed companies. Messages are not fully encrypted by default. That means the company could, in theory, access the content of the messages, or be forced to hand over the data at the request of a government. The Dow Jones Industrial Average fell 230 points, or 0.7%. Meanwhile, the S&P 500 and the Nasdaq Composite dropped 1.3% and 2.2%, respectively. All three indexes began the day with gains before selling off. During the operations, Sebi officials seized various records and documents, including 34 mobile phones, six laptops, four desktops, four tablets, two hard drive disks and one pen drive from the custody of these persons.
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