Stock prices of Tata Motors and UltraTech Cement, on Friday, dipped on the National Stock Exchange (NSE).
The block sales orders were at much lower than the prices at which the companies were trading at the time, sending shares crashing.
It was speculated as a freak trade reminding the market of the erroneous orders placed by Emkay Global that sent the stock market falling in October last.
“Some brokers put a sell order in these stocks and the price of two stocks fell,” said one broker who preferred anonymity. However “it didn’t cross the 10 per cent exchange limit,” he added. “Orders came from a trading member.
“We are looking into which led to the fall in prices of these two stocks. The orders were within the exchange limit,” a National Stock exchange official told this correspondent.
Tata Motors shares fell as low as Rs.268.25 before closing at Rs.281.65, down 5.80 per cent, while UltraTech Cement fell as low as Rs.1,712.35 but later closed at Rs.1,837.75 with a loss of 3.52 per cent.