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Infosys shares are likely to remain in focus on Monday after an unusual and volatile trading session in the company’s American Depositary Receipts on the New York Stock Exchange on Friday.

The Infosys ADR witnessed a sharp intraday surge of as much as 57 per cent, forcing the exchange to halt trading twice due to extreme volatility. During the session, the ADR touched a lifetime high of $30, its highest level in nearly four years. The previous lifetime high was recorded on January 12, 2022, at $26.39.

The ADR had closed at $19.18 on Thursday, December 18. It opened marginally lower at $19.08 on Friday. Within the first 50 minutes of trading, the stock surged nearly 57 per cent to hit $30. Due to the sharp move, trading was halted twice.

However, the gains did not sustain through the session. By the close, most of the rally had faded, with the ADR ending the day just 5.4 per cent higher at $20.22.

The sharp price action was accompanied by a significant jump in volumes. Trading volume in the Infosys ADR was nearly 10 times the 20-day average. Call options volume also surged to around 10 times the recent average, while put options volume was about four times the 20-session average.

According to Anil Singhvi, Managing Editor at Zee Business, the sharp rise in the Infosys ADR was not a freak trade. He noted that freak trades typically occur in a single tick, whereas the 57 per cent rise in this case played out over nearly 50 minutes.

Singhvi explained that the more likely trigger was a possible data feed error, which may have led to successive trades getting executed. This, in turn, could have activated algorithm-based trading systems at multiple price levels, amplifying the move.

He also highlighted that the company has indicated it is not aware of any material development that needed to be disclosed to the exchange. Singhvi dismissed speculation that the move was driven by expectations of a trade deal, noting that such optimism would have resulted in a broader rally across other stocks as well.

The unusual action in the US-listed ADR is expected to keep Infosys shares under close watch in domestic markets, with investors tracking whether Friday’s volatility has any spillover effect on Indian trading in the coming sessions.