Flash Crash - wipes $60bn off India shares


Well-Known Member
I was away relaxing..when this so-called crash happened....hence I did not have any trades open on Friday! :) Guess I was lucky!

But these flash crashes are becoming very common now. There is a pattern to this....and they chose a Friday to do that ? Knowing very well that Emkay will not be allowed to trade for quite some time! Someone may have been out to get them to sink.....all theories yes, but they make a pattern in a round-about way is what I feel.


Well-Known Member
The US flash crash was due to algorithmic trading. While this was a simple case of absence of depth of market which could not digest a manual error. These Emkay guys had to sell 65 crs of share and instead they put a sell for 650 crore, which market couldn't digest at early minutes of trade.
some how am not convinced about these kind of 'fat fingered human error' bullshit!

if 10 crores are in the line, then I would have atleast two people peer review the orders and set up all kinds of limits and confirmation dialog boxes ("hey are you kidding, this is 100 employees' 10 year salary, are you sure, press 'yes' to go")... after all they are not scalping so they can take all day to establish their position with good fill.

This is planned, market thievery ! I bet some other corporate friend of Emkay already *knew* the time of flash crash and are ready with several crores of short position!


Well-Known Member
"middle finger for market sheeps and 'fat finger story' for PR news comedy!"
I guess that's what the guys initiated this crash should be chuckling!

Its easy to stop all these stupid flash crashes, just announce all the transactions of the day as invalid (and may be open one more session on saturday !)

Flash crashes benefit only one person, the guy who initiated it!

No retailers can fade the crash because of the violent fall and quick recovery.
Even if they try to fade it, in the next minute they will be in deep red, bcoz the crash recovers!

If you fade the crash, you lose big
If you don't fade the crash, you lose big

Its a no win situation for the victims, and 100% fat cash for those fat fingers !


Active Member
Thinking aloud, every market player has the right to sell or buy within limitations. I do not see anything wrong with Emkay's orders as an outsider. It is a legitimate order from their terminals - if they placed the order wrongly, we as outsider cannot question the order, and they take the responsibility.
But the point is the circuit breakers are not operated by NSE as per guidelines/ norms / rules at 10% and stopped it only by 16%. If it could not be controlled, then it is a fault on NSE. Above this, they violated again by restarting trading in 15 minutes. This is a willful activity for which NSE has to bear the responsibilities.
Finally and most importantly, this exposes the vulnerability (absolute lack of depth - A 650 Crore order, absolutely insignificant compared to the market cap of securities listed, can plunge the Nifty by 16%) of the markets!


Active Member
Completely agree with @Onlinegtrash. There is something very cynical and corrupt happening here. Call me a conspiracy theory nut or whatever, it has something to do with black money of UPA ministers transferred to this country. Guilty broker as we all know, has a high profile cabinet minster as one of the board members.

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