No trading on NSE this morning; here's what happened

No trading on NSE this morning; here's what happened

No trading on NSE this morning; here's what happened

Price quotations for individual stocks listed on the (NSE) were not updating on Monday morning and investors could not place trades, in a problem that appeared to be widespread, four dealers said.

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".

It said that while the equity and currency derivatives segments were trading normally, those were also shut after informing market participants.

The National Stock Exchange had faced a technical glitch which led to it not being able to function. NSE, however, said that since this was largely a software problem, a shift to the disaster recovery center would not have made any difference.

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The exchange had also said that in the F&O segment, members would be given a 15-minute window to cancel their outstanding orders and the window was to be available from 1215-1229 hours. Two sources familiar with the matter said it was an internal issue, ruling out any external cyber attack or hacking. During the day, the NSE issued as many as three public statements about the technical snag, with the last one coming at around 1930 hours. "For fresh trades, we suggest waiting for some consolidation or dip in stocks and preferring hedged positions", said Jayant Manglik, President, Retail Distribution, Religare Securities.

Meanwhile, the finance ministry has sought a report from market regulator Sebi to submit an interim report on the technical glitch by today evening.

"NSE deeply apologises for the glitch".

The NSE is the largest stock exchange in India in terms of total and average daily turnover for shares every year since 1995, as per Sebi data.

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