The National Stock Exchange (NSE) had shut down the trading in markets at 11:40 AM on Wednesday following a technical glitch. The issue is on account of disruption on the leased lines provided by the two leading telecom providers. These telecoms provide connectivity for the exchange through which the market prices are updated. NSE in a statement said that trading had been halted since 11:40 am due to some problem with its telecom services providers.
“NSE has multiple telecom links with two service providers to ensure redundancy. We have received communication from both the telecom service providers that there are issues with their links due to which there is an impact on the NSE system,” NSE said. It added that the company was working on restoring the system as soon as possible.
India’s largest broker, Zerodha, advised its clients to execute their trading orders through BSE for time being. Upstox, ICICIdirect also followed with similar advisories on social media. Apparently, the ticker for the exchange was frozen much before trading was stopped. The last update on the NSE website shows prices as of 10.08 am.
“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, CEO, Zerodha.
He also said that all open orders on NSE, including cash, derivatives, and currency, have been canceled by the exchange. “If NSE doesn’t open for the day, all MIS/CO F&O positions will get carried over to tomorrow with today’s buy/sell entry price,” Kamath added.