Stock exchanges in India are important structures that work with maximum efficiency. For years, they have worked every single day with minimum glitches. However, something strange happened today.
Due to technical issues, the National Stock Exchange (NSE) stopped updating on Wednesday, February 24. NSE India closed cash and F&O market today at 11. 40 am and 11. 43 am respectively. It closed all segments at 11.40 am. However, BSE was not impacted and continues with normal trading.
Immediately, NSE India issued a statement saying, "We are working on restoring the systems as soon as possible. In view of the above, all the segments have been closed at 11:40 am and will be restored as soon as issue is resolved."
All the pending orders of the investors will be deleted due to this technical issue. There is no confirmation that the pre-opening session resuming at 1 pm and normal trade at 1:15 pm.
Explaining the reason behind this shutdown, the exchange said there are multiple telecom links with two service providers to ensure redundancy. "We have received communication from both the telecom service providers that there are issues with their links due to which there is an impact on NSE system."
While NSE is trying to fix the issue as soon as possible, Twitter is chilling and having fun. Within a few minutes memes were made and immediately, the NSE meme fest was initiated. The memes ar really funny. If you are worried because you are a trader and the glitch affects you, then you really need to check these memes. They will make you feel better.
Here are some of the memes. Laugh away!