Infosys ADR Surge Likely Caused by Data-Feed Error, Not Fundamentals: Chronicle Journal
Infosys ADRs surged nearly 50% in early US trade on December 19, likely due to a data-feed glitch and algorithmic buying, not company-specific news.
Infosys ADRs witnessed unusual volatility in US trading amid reports of a data-feed and ticker-mapping error.
A sudden spike in Infosys Ltd’s American Depository Receipts (ADRs) during early US trading on Friday, December 19, 2025, was likely triggered by a data-feed glitch and algorithmic trading activity rather than any company-specific development, according to a report by The Chronicle Journal.
The American publication noted that Infosys ADRs jumped nearly 50 percent within minutes of the opening bell, an unusual move that was later followed by a sharp pullback. The rally, it said, appears to have been sparked by a ticker-mapping error across multiple financial data platforms, which may have misled automated trading systems into aggressive buying.
According to the report, some data providers had incorrectly mapped the “INFY” ticker to an unrelated entity in the days leading up to the surge, while still displaying Infosys-related financial data and news. This mismatch may have been flagged by algorithm-driven trading models as a pricing anomaly, setting off a self-reinforcing buying loop. The impact was further amplified by thin liquidity, as Infosys ADRs typically trade in relatively low volumes.
The ADRs, which had closed the previous session around $19.18, briefly soared to nearly $27 before triggering multiple Limit Up–Limit Down (LULD) volatility halts on the New York Stock Exchange. Prices later fell back sharply, strengthening the view that the move was technical in nature. Notably, Infosys shares listed in India showed no corresponding reaction.
Earlier, Moneycontrol had reported—based on inputs from traders and fund managers—that the spike may have been driven by short-covering linked to US stock-lending dynamics. The additional explanations cited by The Chronicle Journal, including the alleged ticker-mapping error and its role in activating algorithmic buying, have not been independently verified by Moneycontrol.
The publication also pointed out that ADRs are particularly vulnerable to such incidents as they trade when home markets are closed, making them more susceptible to data errors, liquidity gaps and automated trading feedback loops. While cases of ticker confusion have occurred in the past, the scale of the move in a globally recognised, blue-chip Indian IT company has drawn significant attention.
US exchanges and regulators are now expected to review the December 19 trading activity to assess whether data inconsistencies materially contributed to the volatility and whether existing safeguards functioned as intended, The Chronicle Journal reported.
