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

Trading Resumes at NSE After Major Technical Glitches in the Morning

The Sensex of the BSE, which opened at 31,510.62 points, was trading at 31,497.12 points (at 9.16 a.m.), higher 136.49 points or 0.44 per cent from Friday's close at 31,360.63 points. Soon after, trading got stalled in NSE as cash quotes were not updating, while future rates were still working fine.

The exchange had also said that in the F&O segment, members would be given a 15-minute window to cancel their outstanding orders and the window was to be available from 1215-1229 hours.

The key stock exchange has attributed the problem to a technical glitch, vowing to resolve the issue as soon as possible.

Rival BSE gained at NSE's expense on Monday as the former saw total trading worth ₹9,919.37, which is much more than numbers for most of the recent days when volumes were a little over ₹3,000 crore. Two sources familiar with the matter said it was an internal issue, ruling out any external cyber attack or hacking. Also, NSE to submit report to SEBI on glitch.

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

The Securities and Exchange Board of India also issued a statement that the NSE is facing a technical glitch and that the regulator is "closely monitoring the situation". NSE, however, said that since this was largely a software problem, a shift to the disaster recovery center would not have made any difference.

Amid concerns raised in certain quarters on why trading activities were not shifted to the back-up system, the NSE said that shifting would have taken longer.

"The NSE has to submit a report to the SEBI on the glitch", said an official from the Finance Ministry.

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