Trading resumes at NSE after technical issues

Jul 11, 2017, 00:16
Trading resumes at NSE after technical issues

"Due to technical reasons in cash market, trading has been stopped in both Cash and F&O segment of NSE".

Reports state that the stock prices and futures and options quotes did not get updated on Monday morning and the traders were unable to place orders.

Positive global cues along with short covering, above normal monsoon rains and expectations of healthy quarterly numbers pushed the Indian equity markets to close at fresh highs on Monday.

Even as the BSE touched its all-time high 31,510.62 points on Monday July 10, 2017 a major technical glitch hit India's largest stock exchange - NSE.

"For us the main concern is liquidity for the stocks that we are operating in today because only BSE is on", said Gautam Sinha Roy, a fund manager at Motilal Oswal Asset Management Co. "Subsequently after giving notice to the market, the F&O segment was also closed", it said. There have been a few occasions in 2014 when the BSE faced a similar glitch while the NSE continued operations. Two sources familiar with the matter said it was an internal issue, ruling out any external cyber attack or hacking.

However, a technical problem at the NSE created problems during the day.

"BCP (Business Continuity Plan) mechanism is normally invoked during any disaster, hardware failure, connectivity related issues. the system was expected to be rectified quickly and shifting BCP site would have taken longer time", the bourse said in a statement. Preliminary assessment indicated a software problem.

Meanwhile, officials from the Finance Ministry said that the government is aware of the technical glitch at NSE and has, in turn, informed the Securities and Exchange Board of India of the same.

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