NSE Resumes Trading After Glitch Halts Operations for 5 Hours

The market started trading from 3.45 pm and will continue till 5 pm according to a tweet posted by NSE India.

Updated
Business
2 min read
Mumbai: A view of the newly launched logo of Nifty50 at NSE building, Bandra Kurla Complex in Mumbai on May 28, 2019. Image used for representational purposes. 
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Trading on the National Stock Exchange (NSE) resumed from 3.45 pm and continued till 5 pm on Wednesday, 24 February, after being halted for almost five hours over a technical glitch which interrupted its cash and derivatives segments.

Live price quotes of Spot Nifty and Bank Nifty indexes stopped updating, leading to a disruption in the market for five hours.

In a tweet, NSE India shared the updated market timings for Wednesday.

Trading on the National Stock Exchange (NSE) was temporarily halted for five hours on Wednesday.
Trading on the National Stock Exchange (NSE) was temporarily halted for five hours on Wednesday.
Photo Courtesy: Screenshot/Twitter

Following the glitch, NSE took to Twitter to say:

“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 and will be restored as soon as issue is resolved.”   
NSE

They also informed that “the 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.”

Trading on the National Stock Exchange (NSE) was temporarily halted for five hours on Wednesday.
Trading on the National Stock Exchange (NSE) was temporarily halted for five hours on Wednesday.
Photo Courtesy: Screenshot/Twitter

According to NDTV, the Nifty 50 index has been stuck at 14,820 and Nifty Bank at 35,626.60, since 10:15 am.

Meanwhile, trading on the Bombay Stock Exchange has been underway normally.

SEBI Seeks Report

Taking note of the "trading halt", SEBI has directed the NSE to carry out a detailed analysis of the incident and submit its report to the regulator at the earliest, according to IANS.

In a statement, the capital market regulator has also told NSE to explain the reasons for trading not migrating to the disaster recovery site.

SEBI noted that it was informed by NSE that trading was halted at 11.40 am on Wednesday due to "issues with the links with telecom service providers".

The regulatory said it was in constant touch with NSE officials and continued to monitor the situation closely, IANS reported.

NSE was also advised to keep the market participants updated with the evolving developments, it said.

(With inputs from NDTV and IANS.)

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