Stock price quotes still not updating in India's NSE - traders

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Stock price quotes still not updating in India's NSE - traders

"The technical team of NSE is looking into the issue", the exchange said in a statement.

Earlier, brokers and those trading on the NSE had said stock prices did not get updated and there was also an issue in accessing the F&O segment.

The NSE reopened at 1230 hours but traders said quotations for individual stock prices were still not updating properly or suffering from wide gaps in bid and offer prices. The country's largest stock exchange was able to resume trading in the third attempt at about 12:30pm.

The Economic Times reported that around 10.20 am, the bourse said the glitch had been fixed and announced a pre-open session at 10.30 and start of trade in both cash and F&O segments from 10.45.

On Monday, the BSE Sensex was up 355.01 points at 31,715.64 and the NSE Nifty was up 105.25 points at 9,771.05.

A screen grab of NSE website
A screen grab of NSE website

In the afternoon, Sebi said it was closely monitoring the situation.

Interestingly, while the regulator has clearly stated the framework for exchanges to follow in the case of a flash crash, there are no standard operating procedures for instances of "technical glitch" when only one of the exchanges faces an issue. The broader 50-share NSE Nifty also surged as it opened at 9,695, gaining 29.20 points.

Amid concerns raised in certain quarters on why trading activities were not shifted to the back-up system, the NSE said that shifting would have taken longer.

Finance Ministry also sought a report from the Securities and Exchange Board of India (Sebi) regarding the glitch. Besides, the NSE has referred the matter to the Standing Committee on Technology to review the problem and approve measures to prevent recurrence of such glitches.

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