August 5, 2013 / 4:07 AM / 4 years ago

India's Financial Technologies shares rally after steep fall

MUMBAI, Aug 5 (Reuters) - Shares in India's Financial Technologies (India) Ltd rose as much as 14.1 percent on Monday in volatile trading after slumping 73 percent over the previous two sessions.

Financial Technologies shares had slumped last week to a record low after commodities exchange unit National Spot Exchange Ltd (NSEL) suspended trading in most one-day forward contracts.

NSEL said on Sunday most of its trading members had proposed settling outstanding contracts over several months after the trading suspension.

Financial Technologies shares were up 7.8 percent at 0403 GMT after falling as much as 19.9 percent earlier. (Reporting by Rafael Nam and Abhishek Vishnoi; Editing by Supriya Kurane)

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