Kotak Securities on Tuesday said it expected National Stock Exchange (NSE) to touch the 13,000 mark by March 2020.
The total penalty imposed on the non-compliant companies is little over Rs 8.84 crore, according to NSE data.
As there is no fixed price band for stock futures contracts, the dynamic price band will be kept at a certain percentage of the base price according to the exchange.
The Securities and Exchange Board of India has been probing the alleged lapses in high-frequency trading offered through NSE's co-location facility.
While Nifty is trading at 10,623.65, Sensex was trading at 35,316.07.
The 30-share index fell over 140 points in opening trade but soon recovered the lost ground to quote higher by 46.12 points or 0.13 per cent at 34,859.11.
Though sectors like IT, healthcare and capital goods saw good sellout, oil and gas stocks saw a decline in buying.
The NSE Nifty50 also surged around 120 points during the afternoon session of trade. So far, sector-wise, consumer durables stocks led the increase in the market.
Overseas, most European and Asian stocks were trading lower amid ongoing concerns over emerging markets and potential new US tariffs on China.
The Sensex has so far touched a high of 27,600.71 points and a low of 27,508.43 points during the intra-day trade.