According to traders, trade got executed at 5,996 points for October delivery contract of Nifty futures as against the prevailing level of 5,900 points.
Immediately, the reason for the spike could not be ascertained and it was also not clear whether trade has sought to be annulled.
Sources said the trade would be declared a freak one or erroneous if it is annulled.
Nifty's futures contract touched a high of 5,996 points during the trading session at the National Stock Exchange (NSE).
Currently, Nifty's futures are trading at 5,937.95 points in the afternoon trade at the NSE, up 109 points or 1.87 per cent, from the previous close.