The best five levels of a stock are:
| Bid qty | Bid (₹) | Ask (₹) | Ask qty |
|---|---|---|---|
| 800 | 612.40 | 612.55 | 500 |
| 1,500 | 612.35 | 612.60 | 1,200 |
| 600 | 612.30 | 612.70 | 900 |
| 2,200 | 612.20 | 612.80 | 3,000 |
| 4,000 | 612.00 | 613.00 | 2,500 |
Total buy quantity 6,40,000; total sell quantity 2,10,000. (a) Find the mid price and the spread in bp of the mid. (b) You sell 3,000 shares with a market order. What is your average price, and how much below the mid is it, in bp and in rupees for the whole order? (c) A market buy of 3,000 shares instead: average price and bp above the mid? (d) A friend says "buyers outnumber sellers three to one, the price must go up". Give two reasons why the totals do not support that inference.