Fat finger, fatter gain

A Mumbai-based broker accidentally entered an order for 23,000 shares instead of 2,300

A Mumbai-based broker, while trying to buy the Reliance Communications stock sometime last week, accidentally entered an order for 23,000 shares instead of 2,300 — an error known as ‘fat finger’ in the stock markets. Usually such trades are annulled post market hours via stock exchanges. The broker decided to wait until the end of the day. To his surprise, the stock made a stellar rally that day, going up by more than 10 per cent. “Turns out that fat finger was lucky and I did not have to reverse the trade; instead I exited after two sessions making handsome profits,” the broker said.