Tech glitch creates havoc on BSE

Share prices of companies including blue chips such as Reliance Industries Ltd and TCS on Friday displayed weird movements with huge gains and losses of up to 20% at the Bombay Stock Exchange (BSE) due to an early morning technical glitch.

Share prices of companies including blue chips such as Reliance Industries Ltd and TCS on Friday displayed weird movements with huge gains and losses of up to 20% at the Bombay Stock Exchange (BSE) due to an early morning technical glitch.

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Stock prices of TCS, RIL, HDFC, Bharti Airtel, Hero Honda, SBI, ICICI Bank, Tata Steel, BHEL and DLF saw sudden movements of 1,000 points.

TCS jumped by 20% to Rs 1,350 and then dropped by 20% to a low of Rs 900. RIL's stock, too, surged by 20% to Rs 1,040 and then dropped by the same percentage to a 52-week-low of Rs 693.55.

The companies were trading in the range of around 3% gain or loss at the National Stock Exchange.

BSE said in a statement later in the day that it has cancelled all trades and orders executed during the pre-open session in the securities.