Mumbai, Feb. 1 -- To work around the tricky problem of computing circuits of silver exchange-traded funds (ETFs), the National Stock Exchange (NSE) on Sunday changed its computation to trade minus one day (T-1) from T-2 . The change followed confusion after it emerged that the closing price of silver ETFs on Friday was higher than the lower circuit for Sunday's trades.

For instance, Kotak Silver ETF's lower circuit for Sunday, computed on a T-2 basis, was Rs.291.65 a unit, which was above Friday's closing price of Rs.286.93. This set the stage for massive confusion on Sunday until the exchange changed its methodology.

On Sunday, heavy selling pressure was expected after silver prices on MCX tanked 27% at 11.55 pm on Friday against silve...