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NSE Nifty futures spike after ‘freak trade’

Multiple contracts in Nifty October futures changed hands on NSE,with a peak level of 5,996.

Written by Reuters | Mumbai | Published: October 3, 2013 1:03 pm

The October futures contract on the NSE Nifty spiked briefly on Thursday in what multiple traders described as a “freak”,or erroneous,trade.

At 10.20 am,multiple contracts in the Nifty October futures changed hands on the National Stock Exchange,with a peak level of 5,996,said several dealers,a gain on the day of as much as 2.87 per cent. They quickly dropped back for a gain of about 1.5 per cent.

A spokeswoman for the National Stock Exchange declined to comment.

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