Financial Technologies rallies 14% after steep fall

Shares in Financial Technologies (India) Ltd rose as much as 14.1% on Monday in volatile trading after slumping 73% over the previous two sessions.

 

Financial Technologies shares had slumped last week to a record low after commodities exchange unit National Spot Exchange Ltd (NSEL) suspended trading in most one-day forward contracts.

 

NSEL said on Sunday most of its trading members had proposed settling outstanding contracts over several months after the trading suspension.

 

Financial Technologies shares were up 6.6% at 9:39 a.m. after falling as much as 19.9% earlier.