Emkay Global Financial Services has locked in lower circuit of 10% at Rs 31.10 after the National Stock Exchange blamed brokerage firm for the erroneous trades amounting of over Rs 650 crore.
“The market circuit filter got triggered due to entry of 59 erroneous orders which resulted in multiple trades for an aggregate value of over Rs 650 crore. These orders have been entered by a trading member Emkay Global Financial Services on behalf of an institutional client," NSE said in a statement.
The freak trades sent the Nifty down by 927 points at 4,888 points from intra-day high of 5,815 in morning trades.
The stock opened at Rs 35 and has seen a combined 47,613 shares changing hands on the counter so far. There are pending sell orders for 10,041 shares on the NSE and BSE.
