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Q.

The National Stock Exchange index Nifty crashed 800 points on Friday morning, halting the trade, which the bourse blamed on erroneous orders worth Rs 650 crore (Rs 6.5 billion) by a broker Emkay Global for one of its clients...your reactions to it?

Tags: money, relationships, stock
Asked by dharamender nebhnani, 05 Oct '12 06:23 pm
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Answers (6)

 
1.

How can you call such a massive order as erroneous? You are talking about Rs 6.50 not some lacs of rupees which can be termed as less for FII's. Strict action should be taken against Emkay Global and their brokerage licence should be immediately suspended and further investigation ordered. it also proves that the filter of NSE really works or more than 10 lac crore of investors money would have been wiped off and the Stock markets which have got a much needed boost after the reforms and investors would have lost confidence again
Answered by Manoj Adwani, 05 Oct '12 09:14 pm

 
  
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2.

I would perceive it as one of the market manipulation to hoodwink hapless investors, for which the Indian stock brokers are real experts.
Answered by Good Citizen, 05 Oct '12 07:35 pm

 
  
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3.

They say many such things to cheat poor share traders who loose money in money market.
Answered by anantharaman, 05 Oct '12 07:15 pm

 
  
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4.

How voulnarable the system is for any body to take it for a ride.
Answered by bhaskara rao, 05 Oct '12 06:27 pm

 
  
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5.

Looks like it is stage managed to show stock market is booming once again as a result of steps recently being taken by the Congress government for economic reforms like FDI in retail, increase of diesel price etc. Unfortunately for Congress some of the check that were introduced in the past to prevent from market being rigged post Harshad Mehta episod seems to have prevented another similar scam from happening.
Answered by Shyam, 06 Oct '12 01:45 pm

 
  
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6.

Yes this is true and as a result of which the broker emkay global has been suspended there were a total 59 orders worth about 690 crores. it is a ridiculous thing to happen why were the orders accepted and exucutes at such low prices beyond 10 percent less than the market prices at that time for example reliance , at that time was trading at about 856 and it touched a low of 682 that means about 20 percent lower.
were the checks not in place. it was a case of crying after the milk had been split. looks like a joint effor between the broker and nse staff someone has made a lot of money in this whole episode. in my view both the broker and nse are to be blamed
Answered by rajan, 05 Oct '12 06:29 pm

 
  
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