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India’s Flash Crash – India’s Largest Company Reliance’s share fall 20% on the BSE

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After the Dow and the other US indices crashed by almost 8% in the infamous “Flash Crash” during the Greek contagion,India got its own smaller version of the “Flash Crash” with Reliance shares falling by almost 20% in less than a minute due to a trader error.Note Reliance is the largest constituent of India’s Nifty and BSE indices and a 20% fall could have cascaded into a major market panic if this had happened 2 weeks ago.The problem occurred only in the Bombay Stock Exchange (BSE) and did not affect the National Stock Exchange(NSE).

RIL pays for ICICI Bank; plunges 20% in freak trade – Economic Times

The BSE index plunged over 600 points, when shares of the most valued firm RIL tanked 20 per cent due to a faux pas over ICICI Bank share quotation. Shares of RIL finally settled at Rs 1,011.55, down 3.21 per cent on the Bombay Stock Exchange.
According to marketmen, the freak sale happened after some trader off-loaded the company’s stocks at an unbelievable level of Rs 840.55 against yesterday’s close of Rs 1,045.05. According to marketmen, a trader sold about 62,000 shares of RIL at Rs 840.55 per share, while the sale order was meant for ICICI Bank. The transaction pulled RIL down to its 52-week low.


Sneha Shah

I am Sneha, the Editor-in-chief for the Blog. We would be glad to receive suggestions, inputs & comments on GWI from you guys to keep it going! You can contact me for consultancy/trade inquires by writing an email to

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