NSE glitch: Anil Singhvi demands investigation on market action between 3-3:30 pm; asks who caused huge jump in Bank Nifty and Nifty when FIIs were net sellers?

Trading on NSE was completely stopped on Wednesday after technical glitches appeared on the exchange hurting many investors. Now, Zee Business is seeking answers to some pertinent questions. One of the demands made by the Managing Editor Anil Singhvi is a thorough investigation of all the market action that happened between 3 and 3:30 pm

NSE glitch: Anil Singhvi demands investigation on market action between 3-3:30 pm; asks who caused huge jump in Bank Nifty and Nifty when FIIs were net sellers?
Anil Singhvi said that if FIIs did not participate in the market action, it has to be seen who caused a 1500 points surge in Bank Nifty while a 200-250 points rise in Nifty
Written By: ZeeBiz WebTeam
Edited By: Harish Dugh
Updated: Thu, Feb 25, 2021
01:26 pm
New Delhi, ZeeBiz WebDesk
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Trading on NSE was completely stopped on Wednesday after technical glitches appeared on the exchange hurting many investors. Now, Zee Business is seeking answers to some pertinent questions. One of the demands made by the Managing Editor Anil Singhvi is a thorough investigation of all the market action that happened between 3 and 3:30 pm.

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On Wednesday, there was net selling by the Foreign Institutional Investors (FIIs) and they did not buy anything, the Market Guru said. There was a selling worth Rs 500 cr in stocks. The FIIs bought index futures worth Rs 443 cr. So the FII data is very small and whatever action happened on 24 February did not happen because of FII activities, he opined.  

He said that if FIIs did not participate in the market action, it has to be seen who caused a 1500 points surge in Bank Nifty while a 200-250 points rise in Nifty. It needs to be investigated, he further said. 

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