Sensex surges over 1030 points in extended session after technical glitch on NSE

Banking stocks led the gains with Nifty Bank index surging nearly 4%. HDFC Bank and Axis Bank surged over 5%.

National Stock Exchange (NSE) had earlier halted trading in all segments at 11.40 am due to a technical glitch.

"NSE has 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," NSE informed on Twitter.

"All F&O MIS positions will get squared off at 4.15 pm and all F&O CO positions will forcibly be squared off by 4 pm," said Nithin Kamath, founder and CEO of Zerodha in a tweet.

In a tweet, ICICI Securities said: "NSE has resumed trading and cancelled all pending orders. Your positions in NSE in Margin plus, Margin broker mode, Future plus, Future plus with stop loss and Option Plus, Currency SLTP without having corresponding stop loss orders will be squared off at 4 pm."

Retail traders who frequent the live feed were complaining since morning on Twitter about the technical error.

NSE halts trading latest updates

• In a tweet, Zerodha, said :Charts are temporarily offline due to the extended market session on NSE & BSE. Charts will be back online in a few minutes."
• "If NSE doesn't open for the day, all MIS/CO F&O positions will get carried over to tomorrow with today's buy/sell entry price," Zerodha's Kamath.
• NSE halted trading and No news on re-opening. To avoid systemic issues NSE must consider 2 options: In case they are unable to reopen before 3:30, they should extend time for orderly closure of open positions. If no extension, then all trades must be annulled. The markets must be given at least one hour of trading to deal with all open positions or trades. - Jimeet Modi, CEO & Founder, Samco Ventures Pvt Ltd.
• "All open orders on NSE - Eq, FO, CDS has been cancelled by the exchange," tweets Nithin Kamath, co-founder of Zerodha.
• "NSE has halted all trading (Equity, F&O, Currency) from 11.40 am. NSE had issues with streaming feeds for Nifty, Banknifty, and other indices from 10.06 am. I am guessing that they are restarting all the processes for which they had to stop trading to fix the index feeds issue," said Nithin Kamath, co-founder of Zerodha.

• "Trading is halted on NSE across brokers. We are waiting for it to come back online. For equity orders, you can use BSE," Zerodha said in a tweet.

"There is an issue with live ticks for NSE indices (Nifty 50, Nifty Bank and others) across brokers. We are in touch with NSE to have this fixed," Brokerage firm Zerodha said in a tweet.

"NSE does all sort of Mock Trading sessions for system testing, still such things happen in real time and not during mock sessions. Face with rolling eyes. *NIFTY / BANKNIFTY spot prices frozen since 10:07*," one user pointed out.

Some Twitter users had humorous ways to register the complain.

Wednesday’s disruption revived memories of an episode in July 2017, when the NSE shut both the cash and derivatives segments due to technical issues, with traders unable to execute trades at its venue and prices not updating.