Technical glitch brings NSE to a grinding halt

NSE 'deeply apologises' for glitch in trading system says matter is being examined

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.

Both Sensex and Nifty touched record highs soon after the market opened.

The NSE re-opened markets at 1230 p.m. India time (0700 GMT), about three hours after the usual trading start time, after earlier attempts to resume trading failed. Meanwhile, the Bombay Stock Exchange (BSE) stated that its operations were progressing as normal.

Among specific stocks, shares of RIL gained in trade even as its subsidiary Reliance Jio Infocomm on Sunday reported a potential data breach and said it was probing alleged leakage of sensitive details including mobile numbers and Aadhar number of millions of its subscribers on the internet.

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As per the NSE website, the cash segment saw trading worth ₹6,255 crore on Monday.

NSE also clarified that it did not shift trading to the Business Continuity Planning or Disaster Recovery sites since those are invoked only during some form of disaster, hardware failure or connectivity issues whereas preliminary assessment on Monday indicated a software problem. NSE also received queries as to whether today's technical glitch was related to cyber-attack. Secondly, the system was expected to be rectified quickly and shifting BCP site would have taken longer time.

"Equity market ended on record closing high and market sentiment remained positive in spite of NSE technical glitch", said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.

"Don't go by the "neat" message, we are still working on the issue", said NSE. Besides, the NSE has referred the matter to the Standing Committee on Technology to review the problem and approve measures to prevent recurrence of such glitches.

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