Physicswallah's mathematics puzzle: Stock ends 2% lower on BSE, 3% higher on NSE

Did PhysicsWallah shares end lower or higher on Thursday? It depends on which exchange you are looking at. In a rare and puzzling trading anomaly, the newly-listed edtech company ended the session with sharply divergent closing prices on the two main exchanges, BSE and NSE, in a unique case that capped a volatile few days for one of the market’s most hyped IPOs of the year.PhysicsWallah shares closed 2.6% higher at Rs 147 on the NSE, while the stock ended 1.8% lower at Rs 140.95 on the BSE, amid heightened activity in the final minutes of trade. The Rs 6.05 gap, or roughly 4%, between the two closing prices is highly unusual in a tightly arbitraged market such as India’s.Such price differences are typically short-lived and tend to narrow in early trades in the following session, as arbitra