October 05, 2012

Press Release No. 1

Clarification No. 1

 

The market opened normally today and Nifty opened at 5,815. At 9.50.58 Nifty circuit filter got triggered upon which the cash market was closed automatically. The Nifty fall was apparently on account of abnormal orders resulting in multiple trades at low prices. While the Exchange systems functioned normally without any glitch, the above abnormal trades caused market closure automatically due to the index circuit filter getting triggered. The market was reopened by the Exchange with a pre-open phase at 10.00.22 and trading resumed at 10.05.00. The market is functioning normally and the incident is being investigated.

 

 

Press Release No. 2

Clarification No. 2

 

The market circuit filter got triggered due to entry of 59 erroneous orders which resulted in multiple trades for an aggregate value of over Rs.650 crores. These orders have been entered by a trading member Emkay Global Financial Services on behalf of an institutional client. These non-algo market orders have been entered for an erroneous quantity which resulted in executing trades at multiple price points across the entire order book thereby causing the circuit filter to be triggered.  These orders have been identified to a specific dealer terminal.

 

Press Release No. 3

Clarification No. 3

Emkay Global Financial Services has closed out the positions arising out of erroneous trades smoothly.  The member has been disabled from trading.

 

 

Press Release No. 4

Clarification No. 4

 

 

The market opened normally today and Nifty opened at 5,815. At 9.50.58, the Nifty circuit filter got triggered, upon which the cash market was closed automatically. The Nifty fall was apparently on account of the entry of 59 erroneous orders, which resulted in multiple trades for an aggregate value of over Rs. 650 crore. These orders were entered by a trading member, Emkay Global Financial Services, on behalf of an institutional client. These non-algo market orders have been entered for an erroneous quantity which resulted in executing trades at multiple price points across the entire order book, thereby causing the circuit filter to be triggered.  These orders have been identified to a specific dealer terminal.

 

While the Exchange systems functioned normally without any glitch, the above abnormal trades caused market closure automatically, due to the index circuit filter getting triggered. The market was reopened by the Exchange with a pre-open phase at 10.00.22 and trading resumed at 10.05.00 and the market functioned normally. The Exchange is investigating the matter.

 

 Ravi Varanasi, Head-Business Development at NSE said, 

“We have taken immediate action. Emkay Global Financial Services was asked to close out its positions arising out of erroneous trades, which they have done.  The exchange then disabled the member from trading.  There is no question of any glitch or malfunctioning in NSE’s systems. The broker’s dealer put in an erroneous quantity in the orders, which is being investigated.’’ 

 

Mr. Varanasi also said that the circuit filter was triggered at 10 per cent and the cash market was stopped. The orders that were already in the system were executed in the next few seconds. The market was reopened within a few minutes since the price movement was on account of erroneous trades.

 

 

Press Release No. 5

Clarification by Aditya Birla Money Limited

 

Significant price movement has been observed in Aditya Birla Money Limited.

 

The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company.

 

Aditya Birla Money Limited has vide its letter inter-alia stated, "We wish to clarify that there is no price sensitive information / announcement (including impending announcement) relating to the Company which may have a bearing on the price / volume behavior in the scrip".

 

 

Press Release No. 6

Clarification by Venky's (India) Limited

 

Substantial increase in trading volumes has been observed in Venky's (India) Limited.

 

The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company.

 

Venky's (India) Limited has vide its letter inter-alia stated, "We wish to inform you that as of now the Company does not have any information / announcement (including pending announcement), which may have bearing on the price behavior and volume of transactions of the scrip".

 

 

Press Release No. 7

Securities listed and admitted to dealings – DYNATECH

 

The equity shares of the following company shall be listed and admitted to dealings on the Exchange w.e.f. October 09, 2012.

 

Sr. No.

Symbol

Series

Name of the Company

ISIN Code

1

DYNATECH

BE*

Dynacons Technologies Limited

INE741L01018

 

*Currently the securities shall be available for trading in Series 'BE' and subsequently be shifted to Series 'EQ' as per SEBI circular no. SEBI/Cir/ISD/1/2010 dated September 2, 2010