Published: Tue, July 11, 2017
Finance | By Kristine Clayton

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

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

The technical team of NSE is looking into the issue and market re-open time would be intimated shortly, it had said.

Mumbai: Markets continued their upward climb in afternoon trade with both Sensex and Nifty peaking a fresh all-time highs. A Dalal Street broker said: "Small brokers and retail investors were not able to get proper quotes even after 12.30 pm when the exchange claimed that trading was progressing smoothly".

At 9.42 AM, BSE Sensex was up by 192 points at 31,552.63 while NSE Nifty was up 2.30 points at 9,668.10 as normal trading had still not started.

The NSE benchmark Nifty50 closed above the much anticipated 9,700 level for the first time ever, while the BSE Sensex surged over 355 points.

In its statement, the National Stock Exchange clarified, "Due to technical reasons in cash market the opening of the market (Cash and F&O segment) has been further delayed. A clear framework will remove uncertainties from the minds of the traders and investors", said the former ED of SEBI.

"SEBI is in touch with NSE and is closely monitoring the situation", Sebi said.

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.

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 accepted that there was a technical glitch and said that it was trying to resolve the same at the earliest. "We expect an interim report from Sebi by the end of the day", the sources said.

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