India’s largest stock exchange halts trading after data glitches stop Nifty50 and Bank Nifty from updating
- The National Stock Exchange (NSE) of India halted trading during the early hours on Wednesday after a technical glitch in the index price feed.
- The live price quotes of all the 11 sub-indexes compiled by the NSE are also not updating.
- NSE said that its telecom service providers had communicated issues on their end, forcing the stock-exchange to halt trading.
- NSE is India’s largest stock exchange, and this is not the first time that it has faced technical glitches.
- Check out the latest news and updates on Business Insider.
Accordingly, the technical glitch impacted intra-day trading on futures and cash segments. The glitch occurred as rates on NSE stopped updating at 10.08, which led to the closure of the F&O segment by 11.40 am and the cash market by 11.43 am. The live price quotes of all the 11 sub indexes compiled by the NSE are also not updating.
NSE said it has multiple telecom links with two service providers to ensure redundancy. However, both the telecom service providers have communicated issues on their end, forcing the stock-exchange to halt trading.
“We are working on restoring the systems as soon as possible. In view of the above, all the segments have been closed at 11:40 and will be restored as soon as the issue is resolved.”
NSE has multiple telecom links with two service providers to ensure redundancy. We have received communication from… https://t.co/cTB3rJsGXE— NSEIndia (@NSEIndia) 1614148199000
India’s largest broking platform Zerodha informed its clients on social media that the stock-exchange is facing issues and has halted trading until further notice.
There is an issue with live ticks for NSE indices (Nifty 50, Nifty Bank and others) across brokers. We are in touch… https://t.co/kCyfRJaK7M— Zerodha (@zerodhaonline) 1614142260000
"NSE has halted all trading (Equity, F&O, Currency) from 11.40 am. NSE had issues with streaming feeds for Nifty, Bank Nifty, and other indices from 10.06 am. I am guessing that they are restarting all the processes for which they had to stop trading to fix the index feeds issue," said Nithin Kamath, co-founder of Zerodha, in a tweet.
This is not the first time India's largest stock exchange has faced technical glitches that forced it to halt trading. Last year, in June, erroneous price feeds for certain futures and options (F&O) contracts disrupted trading activity at NSE, and brokers had to caution their investors to use limit or stop-loss orders.
In September 2019, the NSE systems faced trading outages, and investors were unable to place orders for 15 minutes. Back then, the error in systems had occurred due to connectivity issues with a service provider.
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