1. NSE technical glitch matter of serious concern: Finance Ministery

NSE technical glitch matter of serious concern: Finance Ministery

The Ministry of Finance on Monday summoned the SEBI to monitor the status of the NSE after trading on it came to a three-hour halt due to technical glitches.

By: | New Delhi | Published: July 10, 2017 4:18 PM
SEBI, NSE, Securities and Exchange Board of India, National Stock Exchange, normal trading in cash, technical glitch, market, market news, market updates, share market Trading on the NSE resumed after a major technical glitch resulted in a three-hour long halt on Monday morning. (Image: Reuters)

The Ministry of Finance on Monday summoned the Securities and Exchange Board of India (SEBI) to monitor the status of the National Stock Exchange (NSE) after trading on it came to a three-hour halt due to technical glitches. “It is a matter of serious concern for the markets. SEBI is monitoring the situation. The NSE has to submit a report to the SEBI on the glitch,” said an official from the Finance Ministry. Trading on the NSE resumed after a major technical glitch resulted in a three-hour long halt on Monday morning.

After two unsuccessful attempts at restoring the activities of the exchange, the NSE resumed normal trading in cash and derivatives in its third attempt. However, dealers are still faced with display issues, which are causing a delay in updating prices on the cash market. Shares of top firms like ITC Ltd. displayed a huge gap between buy price and sell price.

Although the NSE resumed for trade at around 11.15am, glitches continued to affect the operations, leading to a subsequent halt in the resumption of full trade, as pre-open session orders were still not getting executed. It also received complaints from investors about not being able to place trade on the exchange. Meanwhile, trade activities on the Bombay Stock Exchange (BSE) remained unaffected.

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