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Bank of India rebounds from what traders call 'freak' trade
February 5, 2013 / 8:13 AM / 5 years ago

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

An bank counter is seen in Mumbai January 25, 2008. REUTERS/Punit Paranjpe/Files

Reuters Market Eye - Shares in Bank of India (BOI.NS) 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 (TAMO.NS) and Ultratech Cement (ULTC.NS) fell as much as 10 percent due to a technology glitch at Religare Capital that caused "unintended transactions", the brokerage said. (Read more, click here)

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

Reporting by Abhishek Vishnoi

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