NSE halts trading after telecom disruption
About an hour into trading on Wednesday, local traders flagged that levels for the cash segment on the NSE’s benchmark Nifty 50 Index as well as the Nifty Bank Index stopped updating.
The National Stock Exchange of India Ltd. shut trading in its cash and derivative segments, citing “issues” with telecom links of its two service providers, which it said impacted the system and stopped prices from updating.
“We are working on restoring the systems as soon as possible,” a spokesperson for the exchange said in a statement.
About an hour into trading on Wednesday, local traders flagged that levels for the cash segment on the NSE’s benchmark Nifty 50 Index as well as the Nifty Bank Index stopped updating. The exchange notified that it was shutting down all its market segments, including derivative trading, after nearly 90 minutes of that disruption.
“Major volume goes through the NSE, so it will have an impact,” said Anita Gandhi, director at Arihant Capital Markets. “Fortunately, traders have access to BSE also, some will be using that as backup,” she said, referring to the other bourse.
BSE continues to have normal trading in all segments today, the exchange said in a statement.
The NSE Nifty 50 Index was last seen up 0.8% at 14,820.45. NSE will resume pre-market trading at 1 p.m. local time in Mumbai followed by regular trading at 1:15 p.m., television channel CNBC reported.
Wednesday’s disruption revived memories of an episode in July 2017, when the NSE shut both the cash and derivatives segments due to technical issues, with traders unable to execute trades at its venue and prices not updating.