How come sensex opens 172 above previous close

[tajimathew]

do n't worry friends, such things do happen, concentrate on trading and investing. do n't criticise media and so called experts, after all they are doing all these for a living.

 

[johnbest]

Hi there

may this help you to get a better idea.....

On 20-Jan-06 Firday, ACC close was 547...
On 23-Jan-06 Monday, ACC open was 452.5...and close was 544.25

On 14-Nov-06 , WIPRO close was 545.4...
On 15-Nov-06 , WIPRO open was 449.5...and close was 548.05.
Like situation, with WIPRO happened on 17 and 18 Jan 2006.

What I think is that this may be a technical error...sometimes it may
happen...While buying once this too happened with me...I quoted
199.0 instead of 19.90 for RNRL (NSE). But before clicking the button
I came to know the mistake...otherwise....

But.......India is great country....with number of Harshad Mehtas like....
If this happened with a single stock then no need to worry...but if
with number of stocks then.......

Have a nice day
jB







Well this might help other to conclude

 

[ivanboesky]

johnbest,
your observations are correct, but your interpretations and conclusions are far far from the truth!!
You say "What I think is that this may be a technical error...".
This is NOT a technical error. Stocks that have futures and options on them do not have any circuits, and so bids and offers can be posted at any prices (generally upto 20% of the previous day closing price). Also, most stocks have a 20% circuit filter. So if anyone wants to sell at a price 20% lower than the last closing, or buy 20% higher than the previous closing, thats fine for the others, right?? Only problem is that its done on very low volumes, with an aim to manipulate the index/ stock for a few minutes.
Your calling it a technical problem is erroneous.
As for your sarcasm about India, I think its uncalled for.
As the saying goes, "A little knowledge is a dangerous thing".

 

[swagat86]

johnbest,
your observations are correct, but your interpretations and conclusions are far far from the truth!!
You say "What I think is that this may be a technical error...".
This is NOT a technical error. Stocks that have futures and options on them do not have any circuits, and so bids and offers can be posted at any prices (generally upto 20% of the previous day closing price). Also, most stocks have a 20% circuit filter. So if anyone wants to sell at a price 20% lower than the last closing, or buy 20% higher than the previous closing, thats fine for the others, right?? Only problem is that its done on very low volumes, with an aim to manipulate the index/ stock for a few minutes.
Your calling it a technical problem is erroneous.
As for your sarcasm about India, I think its uncalled for.
As the saying goes, "A little knowledge is a dangerous thing".

i agree. SAy a one places an buy order for a stock below 5% of prev close and some one on the opposite side places a market sell order ur order will get executed. Thats quite obvious. And me thinks its just to create Bad Ticks a chart so that TA's wud get confused. Thats real bad.

But if u want to b in the system u got to take all this. No remedies.

Thanks

 

[Agilent]

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

Saga
Where did u get this info from ...

Infy did not trade at 2400 today, according to my research ( not even one share)

The gap may have been caused by some other scrip.

AGILENT

 

[Jai.Shewaramani]

On 23-Jan-06 Monday, ACC open was 452.5...and close was 544.25

It was definately a tick error. Do you find any similarity between 452.50 and 542.50...I'm sure you must have guessed it that they were jumbled up, so it's a genuine error.

On 15-Nov-06 , WIPRO open was 449.5...and close was 548.05.

Similarly, can you spot the difference between 449.50 and 549.50...Again, you are spot on. You didn't need my help to figure it out. This is just a genuine error.

I know many here wouldn't agree with me, but if you do get a copy of trades from the stock exchange, you'll find that none (or equivalent) of the trades were executed at the tick error prices, thus invalidating the price movement.

Regards,
Jai Shewaramani

 

[Agilent]

Saga
Where did u get this info from ...

Infy did not trade at 2400 today, according to my research ( not even one share)

The gap may have been caused by some other scrip.

AGILENT

Saga
Will you be gracious enough and explain, or we will construe that 2400 to be a figment of yr imagination ?

If so, what is the motive ?

AGILENT

 

[ivanboesky]

Agilent,
Saga is right. Infy's opening tick on the BSE on 17th Nov was 2401.00. That would explain the rise in the Sensex.

 

[Agilent]

Agilent,
Saga is right. Infy's opening tick on the BSE on 17th Nov was 2401.00. That would explain the rise in the Sensex.

Ivan
How come it doesn't show in any paper (Eco Times for instance), or in ICICI Direct charts

On the other hand , notice Reliance Inds opening quote on BSE of 1350 (against prev close of 1260) and quickly settling down lower at levels around 1280 : notice also how NSE was unmoved... so the BSE trade seems to have been a freak (read manipulated, circular deal).

For the record, Infy abd Reliance resp hold the largest and 2nd largest weightage in Sensex, at around 12% each, so will be the obvious targets for index manipulation.

Hullo , SEBI , are you there ?

AGILENT

 

[ivanboesky]

Agilent,
Check out the ET on the 18th Nov. It distinctly shows Infy's high as 2401.