MJM23 I think was on the money for the volume of shares traded. "Hold your horses, there was an index re-balancing. "
The following Australian Newspaper article from 11 March 2013 explains MJM23 post.
http://www.theaustralian.com.au/business/opinion/there-are-opportunities-in-asx-rebalance-for-short-term-punters/story-e6frg9lo-1226594682708
From the article
"A feature of most of the ASX300 inclusions is they have moved very, very hard."
In the case of the ASX200 deletions, they underperformed leading up to the announcement, traded flat during the implementation and then rebounded post-implementation.
The ASX300 showed a similar pattern. In the case of the ASX100 the effect isn't so severe because buying or selling from large-cap index managers is offset by buying/selling from small cap managers."
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