Technical Fault in the Trading System of BSE Increases Share Prices by 1000 Points
Bombay Stock Exchange declares to cancel certain buying and selling activities commenced on Friday, because of the occurrence of some technical problem in the trading system. On Friday, the index witnessed an increase in the share prices of certain companies like TCS, Reliance industries and HDFC Bank.
Due to the occurrence of technical fault, the index showed a sudden increase in the share prices of 30 companies, over 1000 points an overall increase by 5.37%. The sensex had closed on Thursday at 18,618.20 points, was marked at 19,619.65 points in the trading sessions commenced early morning.
The traders were confused with the statistics but the index closed at 18,561.92, down 52 points or 0.30%. National Stock Exchange's Nifty closed at 5581.10, down 18.70 points or 0.33 per cent. The broader index touched a high of 5631.70 and low of 5562.75 intraday.
The BSE had declared to the media that it had cancelled 1,354 trades commenced on Friday, during the pre-open session. The sectors like the metals were marked at a fall by 0.85%, Auto Index fell by 0.59%, real estate’s fell by 0.54%, the IT index was marked at a fall by 0.37% and power index increased by 0.04% at BSE.
Tata Motors (-3.11%), Reliance Power (-2.44%), Sesa Goa (-2.36%), GAIL (-2.34%) and ONGC (-1.89%) were amongst the top Nifty losers.