The National Stock Exchange (NSE) system faced trading outage, with investors unable to place orders in the last 15 minutes of the trade on Monday. The move hit several brokers and traders who had active positions in the market.
Sources said the exchange is looking to ascertain the reason for the glitch. Some officials said the problem occurred due to a connectivity issue with one of the internet services providers, Sify.
“NSE stock price feeds stopped updating after 3.15 pm. The system started showing Friday’s closing prices. Traders were unable to square off their positions, leading to panic,” said a person aware of the development.
Market regulator Sebi, too, has asked for a report from the NSE over the glitch. Some brokers also faced issues during the start of the trade with price feeds from NSE’s servers in Hyderabad and Jaipur failing to update. ICICI Direct a morning tweet had said: “Price feeds not coming from the NSE due to technical issue at the NSE’s end. Limit orders not going across all products. Please place limit price." Later the brokerage said tweeted again saying the issue had been resolved.