The National Stock Exchange (NSE) on Monday asked rival BSE
to provide reasons for the spurt in trading volumes
in its shares. BSE
is exclusively listed on NSE.
A total of 663,361 BSE
shares were traded on Friday, 13 times more than its previous four-day trading volumes.
"Significant increase in volume has been observed in BSE.
The exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company," NSE
wrote to BSE.
In its reply, the BSE
said, "We would like to confirm that there is no such announcement or price sensitive information that is pending to be intimated or furnished by the company to the stock exchanges concerning the operations and performance of the company."
"We wish to reiterate and clarify that all information furnished by the company is in the public domain. We keep the stock exchanges duly informed of all the price sensitive information," it further added.
Interestingly, the query to BSE
was sent on Monday, when NSE
saw a three-hour trading
halt due to a technical glitch. Many market players said BSE
could benefit due to the fiasco at NSE
as traders would spread their bets on both exchanges.
Shares of BSE
on Monday gained 1.9 per cent to Rs 1,087. However, the trading
volume was low at just 6,000 shares.