Strange price movement in SBIN

Today SBIN rose 9.15% from 184 to 201.20. The price at market close 15:30 is 201.20.

However after that 1327 buyers placed orders of qty approx 17,00,000 at average 195.90 by 16:00 hrs. So SBIN has closed at 195.90 today. Any individual trader who bought SBIN today will be in the red now.

It seems if you have enough money in your pocket you can move the market.

Your observations, please.

Also SBI net profit tanked 66%.. How a share price increases when the results are bad?

This is nothing unusual. Whenever any scrip makes huge upmove ( or downmove ) in the last few minutes, final closing price comes always below ( or above ) the last traded prices. And when post market opens at 3.40 P.M, buyer and sellers can only punch trades at the fixed closing price. They can't move the price. Depending on the level of closing price w.r.t LTP, either you will see buyers or sellers in the post market trading, unless off course something dramatic event happens between 3.30 and 3.40

There are 2 prices Latest trade price and the closing price.
Closing price is the weighted average of the last 30 min. This has been done to avoid stock price manipulation in the last min.

Is it done to avoid stock price animation in the last few minutes?

OR

Is it done to mask stock price animation in the last few minutes?


Averaging of number tends to destroy the details (smoothen the line so to speak). Closing price affects what people will see from next day onwards. This adjustment of price hardly offers any resistance to those who did the trade during that last minutes and although they may have their prejudices as to where they want closing price to be, they cannot (in true market sense) make guaranteed predictions for the closing price.

This is -2.63% from the closing price at 15:30 hours. An average day's range in 30 minutes. Also, suppose another group of people placed bids for 18,00,000 shares at a different price, would that become the closing price.

BTST seems too risk ridden.

It was the same thing with Bank of India. The price traded at 3.30 was 88.30, but the adjusted close was 86.95; the price range in the last 30 minutes was 86.05 to 88.30

Oops I meant to say manipulation.

Yes you can. but that merely facilitates moving of markets but not guaranteeing profit. Herd of traders/investors have much more money power than a couple of cash rich manipulators. this is reason why false rumors are spread out by manipulators to influence the herd not go against their wishes. If cash is the only decider, the wealthy and affluent would have sucked money out of markets by now. For markets to survive there has to be a fountain of loosers....and thats a different story.