Yes its algorithmic trading......and YES IT IS manipulating the daily average price down.
Why else would they bother doing it if it wasn't having an impact on the daily average price? That is the pure definition of manipulation!
Market manipulation is a deliberate attempt to interfere with the free and fair operation of the market and create artificial, false or misleading appearances with respect to the price of, or market for, a product, security, commodity or currency.
Ann: Prospectus for Non-Renounceable Pro-Rata Rights Issue, page-63
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