NSE apologises for technical error that disrupted trade for over 3 hours

Paterniano Del Favero
Luglio 11, 2017

Earlier, some technical glitch due to unknown cause at the NSE disrupted trade on its platform for more than 3 hours and the trading resumed at 12:30 pm in the afternoon.

A little later, NSE's chief of business development Ravi Varanasi said normal market operations would reopen at 1115 hours.

The key stock exchange has attributed the problem to a technical glitch, vowing to resolve the issue as soon as possible. Both the Nasdaq and BATS stock exchanges declared self-help against the NYSE amid the technical problems, which allows trading centers to bypass an automated trading center that is experiencing system problems. "Subsequently after giving notice to the market, the F&O segment was also closed", it said. The broader 50-share NSE Nifty also surged as it opened at 9,695, gaining 29.20 points. Soon after, trading got stalled in NSE as cash quotes were not updating, while future rates were still working fine. "A mixed trend at other Asian bourses following a rally on Wall Street on Friday on the back of forecast-busting USA jobs data cheered investors here", the report said. According to the recommendation, which NSE was against adopting, any eventuality arising out of a technical snag such as the one that paralysed the bourse could have been avoided. Preliminary assessment indicated a software problem.

Meanwhile, Finance Ministry said the techinical glitch is a matter of serious concern for markets. "We expect an interim report from Sebi by the end of the day", the sources said. 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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