Sensex, Nifty hit record high in early trade

Sensex slumps from record high, investors face issues at NSE

Price quotations for individual stocks listed on the (NSE) were not updating on Monday morning and investors could not place trades, in a problem that appeared to be widespread, four dealers said.

The disruption, which affected traders from the market open, surpassed a three-hour disruption suffered by the BSE in July 2014 because of a network outage.

"However, a market display problem was observed in the cash market and was rectified subsequently", the statement said quoting submissions made by the NSE.

The stock exchange said that it shut down F&O segment at 9.55 am. Two sources familiar with the matter said it was an internal issue, ruling out any external cyber attack or hacking.

"SEBI is in touch with NSE and is closely monitoring the situation", Sebi said. In today's trading, Nifty gained as much as 116 points to reach the all-time high of 9,772 mark.

However, a technical problem at the NSE created problems during the day.

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 NSE will send a detailed report to Sebi. NSEs chief of business development Ravi Varanasi told PTI that normal market operations resumed at 1230 hours and since then the system has been functioning fine.

The NSE reportedly admitted that a technical glitch occurred and said that it was attempting to resolve the issues. The NSE has been the largest stock exchange in India in terms of total and average daily turnover for shares every year since 1995, as per Sebi data.



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