Sebi initiates probe into 900-point Nifty flash crash

October 05, 2012 14:28

Market regulator Sebi has begun initial probe into the 'flash crash' of NSE index Nifty, which fell by nearly 900 points this morning, halting the trade on the exchange for about 15 minutes.

While the National Stock Exchange (NSE) blamed "abnormal" orders placed by stock broker Emkay Global in multiple trades of various stocks at low prices for the crash, sources said that regulator is looking into all aspects of the incident.

NSE has claimed there were no technical glitches in its system and the crash was due to 'erroneous' trade orders worth over Rs 650 crore by Emkay Global, which has been now disabled by the bourse for trading.

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