Sebi asks NSE to 'carry out a detailed root cause analysis of trading halt'

Sebi asked NSE to explain the reasons for trading not migrating to the disaster recovery site

Markets regulator Sebi on Wednesday adivsed NSE to "carry out a detailed root cause analysis of the trading halt” witnessed at the stock exchange earlier in the day. 

"SEBI has advised NSE to carry out a detailed root cause analysis of the “trading halt” witnessed at NSE today and also explain the reasons for trading not migrating to the disaster recovery site. SEBI has asked NSE to submit its report at the earliest," the regulator said in a statement. 

It was informed by NSE that trading was halted at 11.40 am today due to “issues with the links with telecom service providers”, Sebi further said. 

SEBI was in constant touch with NSE officials and continued to monitor the situation closely, it said while adding that  NSE  was  also  advised  to keep the market  participants  updated  with  the evolving developments.

The “trading halt” continued till 3.30 pm. In view of the exceptional situation arising out of the “trading halt”, it was decided to extend the trading hours from 3.30 pm to 5.00 pm at NSE, BSE and MSEI.

Post resumption of trade, the benchmark S&P BSE Sensex zoomed to day's high during the fag-end of the session, soaring 1,130 points in the intra-day trade. The index ended 1,030 points, or 2 per cent, higher at 50,782 levels. On the NSE, the Nifty50 closed above the 14,950-mark, up 272 points or 1.9 per cent at 14,982 levels.