India’s Stock Exchange ‘Closes’ After State Bank Of India ‘Flash-Crash’

India’s Stock Exchange ‘Closes’ After State Bank ‘Flash-Crash’ (ZeroHedge, Oct 5, 2012):

While we have grown accustomed to the daily gyrations on mega-volume in the US equity markets, it seems the HFT-virus has spread as far afield as India this evening. India’s National Stock Exchange was halted – with no price dissemination – as State Bank of India plunged over 14% in seconds on massive relative volume (and HDFC and Infosys also fell), dragging the Nifty Index down 3%. Of course, the ‘error’ is being investigated and SBIN has recovered its losses…

  • *STATE BANK OF INDIA SHARES FALL 14% ON NATIONAL STOCK EXCHANGE
  • *INDIA’S NIFTY INDEX EXTENDS DECLINE TO 2.8%
  • *NATIONAL STOCK EXCHANGE SAYS VERIFYING SOURCE OF PRICE ERROR
  • *NATIONAL STOCK EXCHANGE SAYS NIFTY INDEX LEVELS NOT UPDATING
  • *INDIA’S NATIONAL STOCK EXCHANGE RESUMES TRADING
  • *INDIA’S SENSEX INDEX ERASES LOSS; GAINS 0.3% IN MUMBAI
  • *INDIA’S NSE SAYS `LOOKING INTO’ THE FREAK TRADE

Sigh!

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