How come sensex opens 172 above previous close

[Spiderman]

Did anybody notice sensex opens 172.15 points above previous close today.
a stock can have a freak trade often but how can a mainline index have such a freak opening? was there some manipulation or was it an opening error?
any clue forum members?

spiderman

 

[ranjani]

Dear sir,
Must be a technical snag?


ranjani

 

[saga364]

Hi,

I saw this a few minutes back on one of the television channels ...

Markets opened normally with Infy shares trading at around 2200 levels and then all of a sudden at around 10:01 AM, one share of Infy was traded at 2400. This was a huge spike considering the average levels of infy and weight infy has on the indexes.

Since this was only one share, the 172 point lead over previous close was wiped out pretty soon.

Hope this helps.

Regards,
http://pseudosocial.blogspot.com

 

[Spiderman]

HI SAGA 364,
I checked the bse website here is the OHLC of the day.
open 13678.04 high 13678.04 low 13383.43 close 13429.48. this means sensex opened at 13678.04 at 9.55 am that is a gap up opening. a single share of infosys cannot perkup sensex 172 points and that too at 10.02 am.
but I can understand what you want to convey.
regards,
spiderman

 

[munchikana]

Hi everybody,
Seems a very interesting topic is taken up by a keenly observing member. I checked all usual suspects such as reliance, ongc, icicibank etc. But so far, I could not find any such share which had huge opening (upward gap opening) which could have pushed the sensex to such a high level gap opening. Quite interesting indeed. Can some more informed members of this forum bestow their earnest attention on this aspect?

 

[mahmeds2000]

If u see most of the stock is open at very high level and than went very dwn some are below there weekly low, some are below monthly low. i am also thinking abt. some sort of manipulation but how it is possible for maximum no of stock?

Ahmed

 

[toxicexpulsion]

i noticed this too, something funny...

 

[jdm]

when derivative trading started in India, the operators played a similar cat and mouse game. if my memory does not fails me, a similar situation arised back then, when they punched in a trade way away from the previous close at the very opening of the market making the market hitting the circuits. some "hard talk" by the market regulators and subsequently implementation of an operating range of 20% in the f&o script did the trick for the regulators.

cheers,
jdm.

 

[Spiderman]

Hi JDM,
That is the point. It was a desperate attempt and no retail guy can
do it.

regards,
spiderman

 

[jdm]

hi spiderman,

cannot say about yesterdays move, but the one i mentioned is nothing but a cat and mouse game. its just to humiliate the good for nothing regulators by the market makers. a type of hacker in the trading world you can say, who meant no harm, but to let us all see how vulnerable the system is.

cheers,
jdm.