The deal of 100 shares, which was struck during the post-closing session of the exchange was priced at a discount of over Rs 200 to the circuit price of Rs 2,887.95, and has been accordingly cancelled. The sell order of 100 shares was transacted at 15.51 pm.

Interestingly, while Infosys continued to be locked at the day's highest price of Rs 2,887.95 throughout the trading session with an outstanding buy order of 14,500 at the same price, the post closing session saw a deal of 100 shares been sold at Rs 2,675, which formed the lowest bid for the day.

While fear gripped the market that the new price would be considered as the base price, thus eradicating all the gains made during the session, NSE decided to cancel the deal. According to senior officials of NSE, the deal was struckon account of a technical snag in the latest version of the software introduced on the exchange. A similar instance has also been cited at the Tisco counter. However, the exchange has decided to consider the last traded price of Rs 105.25 as the base price.

During the pre-opening session at 9.55 am, the Infosys stock registered a buy order of 20,300 shares at Rs 2,884 while the sell order at this level was pegged at 8,900. Similarly, at the post closing session the counter registered three buy orders of 1,600 shares, 2,000 shares and 14,500 shares, while the sell orders were 300 shares and 100 shares at 14.55 pm and 15.55 pm respectively.

According to market observers, since Tuesday is the last day of the trading cycle on the NSE, if the deal would have been considered for the price formation process, the bears would have been trapped and could have led to price hammering at the BSE also. At the BSE the stock closed at Rs 2,889.75.