NSE hit by technical glitch, trade halted
The day the markets reached record levels, there was a turnkey, in the form of a technical problem that affected NSE or national stock market through the morning trade.
“Due to technical reasons in the cash market, trade was stopped in cash and F & O segment (futures and options) of the NSE,” said the exchange.
However, at 12.30, trade finally resumed after being closed for most of the morning session. Some traders said they still had problems in the cash market.
NSE said money markets were operating normally, although it was acknowledged that there was a “display problem” that licensees reported that it limited their ability to place trades.
Market regulator Sebi or the Board of India Stock Exchange and Securities said he was in contact with NSE and monitor the system closely.
Share prices and individual indices have not been previously updated. Acting CEO NSE (CEO) J Ravichandran said the grant was trying to solve the “technical problem”.
The technical problem in individual stocks affected traders since the beginning of Monday’s session, which prevents them from placing trades, several dealers said.
NSE stock indexes have been updated during the open trade, but stopped shortly thereafter. Futures and options contracts began to be sold normally at the beginning, but the NSE has stopped providing estimates, according to dealers.
“At this point, our objective is to reactivate the market and we have to analyze the cause,” Ravichandran said after the market closed.
The rival NSE, EEB Ltd, said its change was working normally. The benchmark BSE rose 0.77% to a record level, surpassing its historic success on June 22
Indian stock exchanges have already suffered trade interruptions from time to time, but were quickly resolved.
NSE has tried unsuccessfully to re-open the trade at 11 am but failed to solve the ‘technical’ problems.
NSE is the latest of the two stock exchanges in India and sees more than 80 percent of operations in the equity derivatives market and share its platform. BSE is the oldest stock exchange in Asia, compared to controlling 14 percent of operations.