Gujarat Exclusive > National-World > Trading on NSE, BSE extended till 5 pm after technical glitch

Trading on NSE, BSE extended till 5 pm after technical glitch

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A technical glitch resulted in major trouble for traders across the country, with the National Stock Exchange (NSE) halting trading on Wednesday. It is not the first time that the exchange had to stop trading due to technical issues.

NSE cancelled all open orders of equity, equity futures and options and currency futures due to the technical glitch. The development resulted in panic among traders about their positions a day ahead of the monthly expiry of derivative contracts for February. Notably, despite the technical glitch at NSE, trading at BSE continued unaffected.

Meanwhile, in a bid to facilitate the traders affected due to the glitch, trading at both the Bombay Stock Exchange (BSE) and NSE was extended until 5 pm.

NSE tweeted, “Please note the market timings for only today: F&O Segment Normal Market will Re-open as follows: Normal Market open time: 15:45 hrs Normal Market close time: 17:00 hrs Trade Mod cut off time: 17:30 hrs.”

What was the problem?

The National Stock Exchange halted all trading on February 24 at 11:40 and the cash market at 11:43 am. This happened after the index price for several companies froze for many brokers. Many large brokerage firms and like Zerodha and small traders/investors others took to Twitter to voice their complaints about the NSE not working.

“There is an issue with live ticks for NSE indices (Nifty 50, Nifty Bank and others) across brokers. We are in touch with NSE to have this fixed,” Zerodha tweeted on their official Twitter page.

This NSE trading glitch is not the first time it is happening. Previously, in June 2020, NSE had issues where bank option segment prices were not reflecting on the terminal exchanges. Also, in September 2019, the Bourse trading system had faced outages and investors were unable to place orders during the window of the outage.

Brokers from around the country reported on Twitter than NSE’s benchmark indices. Nifty and Bank Nifty were crashing and were not getting updated with the latest refreshed rates from the cash market. This led to NSE shutting down trading for the time being until they could get the issue sorted.

NSE tweets

The exchange tweeted, ”NSE has multiple telecom links with two service providers to ensure redundancy. We have received communication from both the telecom service providers that there are issues with their links due to which there is an impact on NSE system.”

It added, ”We are working on restoring the systems as soon as possible. In view of the above, all the segments have been closed at 11:40 and will be restored as soon as the issue is resolved.”

 

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