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MARKET EYE-India's Emkay rallies; resumes trading in NSE

Wednesday, 10 Oct 2012 | 1:49 AM ET

* Shares in Emkay Global Financial Services Ltd

surges

9.9 percent after announcing the National Stock Exchange had re-instated its trading facility across cash, derivative and currency segments.

* Gains come after Emkay's erroneous trades had jolted markets on Friday, sending shares in the financial firm down by nearly 10 percent in each of the previous three sessions.

* "We have now subjected all our trading and risk management systems to a further rigorous examination and have taken various steps to avert any such manifest error in future," Emkay says in a statement. * "We are well capitalized and continue to conduct our business for both institutional and retail clients," it adds.

(manoj.dharra@thomsonreuters.com)