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Rediff News  All News  » Business » Emkay Global extends fall, tanks 27% in three days

Emkay Global extends fall, tanks 27% in three days

October 09, 2012 12:48 IST
A combined 14,398 shares have changed hands on the counter and there are pending sell orders for 115,711 shares on the National Stock Exchange and Bombay Stock Exchange.

Emkay Global Financial Services on Monday admitted an error on its part for the 900-point flash crash of the NSE index Nifty
on Friday morning, and said it would help the stock exchange in probe into the matter.

The error was in entering the value of the order as the quantity of Nifty-50 basket to be transacted.  The order got transmitted to the NSE trading server as a single large Nifty basket order comprising of Nifty 50 stocks.

"Immediately on realising the error, we promptly got in touch with the NSE and kept in touch with them to co-ordinate all future course of action until the entire erroneous outstanding position was closed out," Emkay said.