Trading terminals shut

Trading terminals of many brokers were shut on Friday as the fall in share prices for three days in a row triggered margin calls. There were reports about some payment problems after the Senses fell 555 points in three days after the surfacing of the loan scandal.

Marketmen had built up long positions earlier anticipating a recovery in prices. Instead of the recovery,the market continued to fall. Financiers who provided cash to buyers asked for more margins. Some terminals were shut on Friday as brokers didnt want to allow clients to entertain more losses, said a market source. The settlement for period ended Friday will come on Tuesday. Monday and Tuesday are crucial for the market. If payments get completed,then the situation will be normal,analysts said.

The NSE denied there was any margin issue in the market. There have been reports in some sections of the press that there were some settlement / margin issues. We would like to confirm that the settlements were completed as per schedule and there were no margin/ settlement issues. The margins are computed and collected as per the regular policy, the NSE said.