BSE shares slip for third straight session, where's the multibagger stock headed?

Shares of BSE ltd have lost 12% in three sessions after the multibagger stock was included in the Stage 1 of the Additional Surveillance Measures (ASM) framework by the NSE. BSE shares slipped to Rs 2653 in the current session against the close of Rs 3005 on June 10. 

Before the ongoing correction, the BSE stock hit a record high of Rs 3030 June 10 this year. The multibagger share logged a gain of 196% in a year and rose 6129% in five years. 

Market cap of the  BSE stock stood at Rs 1.09 lakh crore. The ASM framework was applied to curb speculative activity after the stock's substantial rise of over 130% since its March lows. 

The ASM framework is an initiative by the Securities and Exchange Board of India (SEBI) and stock exchanges, designed to protect investors by imposing restrictions on certain securities. 

Meanwhile, Sebi registered independent analyst Abhijeet said, "BSE stock is bearish on the Daily charts & also overbought with strong resistance at Rs 2861. Investors should be booking profits as a Daily close below support of Rs 2647 could lead to a target of Rs 2288 in the near term."

The stock exchange's net profit surged to Rs 494 crore in Q4 againt Rs 107 crore a year ago. Revenue climbed 75% year on year to Rs 846.6 crore in the last quarter against Rs 484 crore in Q4 of the previous fiscal.