Saturday, 23 September, 2017

Technical glitch fails to deter investors; Sensex, Nifty hit fresh lifetime high

National Stock Exchange National Stock Exchange
Juana Turner | 11 July, 2017, 00:18

The National Stock Exchange of India (NSE) said on Monday a technical glitch had impacted trading on its Cash and F&O (Future and Option) segment during the early-morning trade session on Monday.

The disruption, which affected traders from the market open, surpassed a three-hour disruption suffered by the BSE in July 2014 because of a network outage.

In a message posted on its website, the NSE had said the cash market segment shall reopen at 1215 hours and end at 1222-1223 hours.

Deven Choksey, managing director, KR Choksey Investment Managers, said, "Trading at both the segments is halted due to a technical glitch at NSE cash segment". Bharti Airtel was the top Nifty gainer, up 5 per cent at Rs 405.70 after the company unveiled a plan to invest Rs 2,000 crore in 3 years to revamp customer touch points under project "Next".

The Indian market opened the week with on positive note with NSE Nifty closing on record high on Monday, according to media reports. The ministry has sought a report on the issue.

In its statement, the National Stock Exchange clarified, "Due to technical reasons in cash market the opening of the market (Cash and F&O segment) has been further delayed".

On BSE, 1,540 stocks advanced, while 1,112 declined and 157 remained unchanged. "The system was expected to be rectified quickly and shifting to the BCP site would have taken longer", it said, adding that the glitch was not related to any kind of cyberattack.

NSE also clarified that it did not shift trading to the Business Continuity Planning or Disaster Recovery sites since those are invoked only during some form of disaster, hardware failure or connectivity issues whereas preliminary assessment on Monday indicated a software problem. The matter has also been referred to the Standing Committee on Technology to review the problem and approve measures to prevent recurrence of such glitches.

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