Bank of India rebounds from what traders call 'freak' trade

Last Updated: Tue, Feb 05, 2013 08:04 hrs
Investors watch share index at local share market in Chandigarh

Shares in Bank of India make a sharp fall before quickly recovering in what some traders describe as a "freak" trade.

Trading at 336.65 rupees, down 1.2 percent, Bank of India shares suddenly fell to 314 rupees, down 7.8 percent on the day, at around 12:20 p.m IST. The shares, however, recover to 337.35.

On Friday, shares of Tata Motors and Ultratech Cement fell as much as 10 percent due to a technology glitch at India's Religare Capital that caused "unintended transactions", the brokerage said.

The National Stock Exchange, where the Bank of India trade occurred, did not have any immediate comment.

More from Sify: