This Article is From Aug 22, 2013

BNP Paribas sells MCX shares worth Rs 17 crore

Mumbai:

Financial services firm BNP Paribas Arbitrage on Wednesday offloaded 6 lakh shares of Multi Commodity Exchange (MCX) worth about Rs 17 crore.

As per bulk deal information with the bourses, BNP Paribas sold the shares through open market transactions at Rs 282.7 apiece for a total of Rs 16.96 crore.

Earlier this week, BNP Paribas had picked up 5.66 lakh MCX shares for an estimated Rs 14.5 crore. Besides, on August 16, the financial service firm had bought 6.4 lakh MCX shares for more than Rs 15 crore.

The Bombay Stock Exchange (BSE) has halved the circuit limit for MCX shares, capping its maximum movement in a day at 5 per cent. Earlier, MCX shares were allowed an upward or downward movement of as much as 10 per cent in a day.

The bourses generally lower the circuit filter of a stock as part of their surveillance mechanisms to avoid excessive volatility in the share price.

Shares in MCX, on Wednesday, ended at Rs 281.55 apiece on the BSE, up 5 per cent from the previous close.

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