NEW DELHI: Brokers and dealers on Dalal Street on Wednesday said all trading was stopped on NSE due to some technical glitch, and asked their clients to use BSE for the same.
NSE in a statement said that trading had been halted since 11:40 am due to some problem with its telecom services providers.
“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 said.
In a update around closing time, NSE said issues were resolved and trading was extended till 5 pm.
We are working on restoring the systems as soon as possible. In view of the above, all the segments have been close… https://t.co/EjWv7EZXbi
India’s largest broker, Zerodha, advised its clients to execute their trading orders through BSE for time being. Upstox, ICICIdirect also followed with similar advisories on social media.
Apparently, the ticker for the exchange was frozen much before trading was stopped. The last update on NSE website shows prices as of 10.08 am.
“NSE has halted all trading (Equity, F&O, Currency) from 11:40 am. NSE had issues with streaming feeds for Nifty, Bank Nifty, 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, CEO, Zerodha.
He also said that all open orders on NSE, including cash, derivatives and currency, have been cancelled by the exchange.
"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," Kamath added.
Plan of action: If NSE isn't back up by 2.45 pm, we will block all new MIS & CO orders for the day and attempt to s… https://t.co/0HwVJt9Pqi
IIFL Securities in a tweet said that the NSE pre-open market will start at 1 pm and the normal market at 1:15 pm. However, a spokesperson for the exchange refuted the news. He added that there no decision has been made in this regard.
ETMarkets.com
Meanwhile, BSE on its official website was running a ticker suggesting all segments at BSE "will operate as usual on Wednesday".
D-Street Reactions “I am remembering today the Russian market shutdowns in 1998. Russian authorities would wait for Europe to open, see if markets were Green, if yes, open Russia for trading. Else keep it shut. Today's, Asia market action is ugly… (sic),” said Shankar Sharma, Founder of First Global, in a tweet.
Ajay Srivastava, CEO, Dimensions Corporate Finance told ET NOW that it was very important for NSE to give time to people to look at their account statement as they do not know which trades went through. So, no one knows what are the positions and where the margins are, he added.
Buffett said let them close down the exchange for 10 years. And now we are just 1 hour into it. Hope @NSEIndia does… https://t.co/77v5rIUFgL
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