NSE technical glitch matter of serious concern: Fin Min

No trading on NSE this morning; here's what happened

"Don't go by the "neat" message, we are still working on the issue", said NSE. Soon after, trading got stalled in NSE as cash quotes were not updating, while future rates were still working fine. The cash, as well as, the futures & options segments of the exchange had to be shut down.

The Economic Times reported that around 10.20 am, the bourse said the glitch had been fixed and announced a pre-open session at 10.30 and start of trade in both cash and F&O segments from 10.45.

The wider Nifty of the National Stock Exchange (NSE) closed the day's trade at 9,771.05 points - higher by 105.25 points, or 1.09 per cent. "A clear framework will remove uncertainties from the minds of the traders and investors", said the former ED of SEBI.

Sources said Sebi is constantly monitoring the situation and this sort of problem is a serious concern for the ministry, hoping that such situations do not happen again. In today's trading, Nifty gained as much as 116 points to reach the all-time high of 9,772 mark. NSE, however, said that since this was largely a software problem, a shift to the disaster recovery center would not have made any difference. "The system was expected to be rectified quickly and shifting to the BCP site would have taken longer", it said, adding that the glitch was not related to any kind of cyberattack.

NSE's major rival, Bombay Stock Exchange (BSE), said that it was not facing any such glitches and that trading continued there as normal, according to reports. The NSE has been the largest stock exchange in India in terms of total and average daily turnover for shares every year since 1995, as per Sebi data.

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