Financial Daily
from THE HINDU group of publications
Wednesday, July 11, 2001
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Financial Daily from THE HINDU group of publications Wednesday, July 11, 2001 |
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NSE suspends two members
Our Bureau
MUMBAI, July 10
THE National Stock Exchange (NSE) has suspended two of its trading members for placing ``improper orders which resulted in influencing the market price of shares.''
The two NSE members, Sri Bheemeswara Securities (P) Ltd and Ramesh M. Damani, have been suspended for a period of one month, NSE said. The members had placed orders at prices way far from the previous closing prices in Reliance Petroleum and ACC respecti
vely.
These trades artificially impacted the index to hit the circuit filter resulting in closure of the market, NSE stated in a written statement on Tuesday.
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