NSE apologises for technical error that disrupted trade for over 3 hours

Mumbai: The National Stock Exchange (NSE) on Monday "deeply apologised" for the glitch in its system that brought trading to an embarrassing halt for over three hours during the day.

The leading bourse had stopped trading in cash as well as F&O (Futures & Options) segments following the glitch before resuming normal trade at 12.30 pm. "NSE deeply apologises for the glitch. The matter is being examined by the internal technical team and external vendors, to analyse and identify the cause which led to the issue and to suggest solutions to prevent recurrence," the exchange said in a statement.

The Finance Ministry also sought a report from the Securities and Exchange Board of India (Sebi) regarding the same. The matter has also been referred to the Standing Committee on Technology to review the problem and approve measures to prevent recurrence of such glitches. The panel has public interest directors and technology experts.

A technical glitch disrupted operations at India’s biggest stock exchange. Two attempts were made to re-open the market before finally resuming at 12.30 pm.

The NSE also said the currency derivative segment was functioning normally.

However, despite the shutdown, Nifty settled above the 9,700-mark for the first time. Market sentiments were mostly bolstered on sustained buying by domestic institutional investors and retailers amid optimism over the upcoming earnings season.