Infosys ADR spike likely triggered by data-feed glitch, says Chronicle Journal

A suspected data-feed anomaly and algorithm-driven buying — rather than any company-specific news — appear to have triggered the sudden spike in Infosys Ltd’s American Depository Receipts (ADRs) in early US trade on Friday, December 19, 2025, according to a report by The Chronicle Journal.

The publication said the near-50% surge in Infosys ADRs was likely caused by a ticker-mapping error across multiple financial data platforms, which may have confused automated trading systems and set off a self-reinforcing buying loop in a thinly traded counter. The sharp move subsequently led to multiple Limit Up–Limit Down (LULD) volatility halts on the New York Stock Exchange, an episode that has already been reported.

According to The Chronicle Journal, several data providers in the days preceding the move had erroneously mapped the “INFY” ticker to an unrelated entity, while continuing to attach Infosys-specific financial metrics and headlines to it. This inconsistency, the report said, may have been interpreted by algorithmic trading models as a pricing anomaly, triggering aggressive buy orders. The impact was magnified by low liquidity and the relatively thin trading volumes typical of Infosys ADRs.

The ADRs, which had closed the previous session near $19.18, spiked to as high as $27 within minutes of the opening bell before volatility controls kicked in. Prices later retreated sharply, reinforcing the view that the move was technical rather than fundamental, with no corresponding reaction in the company’s India-listed shares.