Published: Tue, July 11, 2017
Markets | By Terence Owen

NSE Back To Business After Suffering Technical Glitch

NSE Back To Business After Suffering Technical Glitch

The National Stock Exchange (NSE) begun trading in both cash market and futures & options (F&O) segment three hours behind its normal schedule on Monday after it was hit by a technical glitch. "Market re-open time will be intimated". A combined 579,483 shares changed hands on the counter on BSE and NSE so far. The country's largest stock exchange was able to resume trading in the third attempt at about 12:30pm. "A clear framework will remove uncertainties from the minds of the traders and investors", said the former ED of SEBI. Soon after, trading got stalled in NSE as cash quotes were not updating, while future rates were still working fine.

However, a technical problem at the NSE created problems during the day. Secondly, the system was expected to be rectified quickly and shifting BCP site would have taken longer time. Noting that the preliminary assessment indicated a software problem, the exchange ruled out the possibility of cyber attack causing the technical glitch. The 50-share NSE Nifty also rose by 105.25 points, or 1.09 per cent, to 9,771.05, its record closing high, breaching its previous record high of 9,675.10 recorded on June 5. Operations finally resumed at 1230 hours.

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