Sensex And nifty The domestic stock market saw a sharp fall on Monday as the price of crude oil reached $ 139 a barrel amid the Russo-Ukraine war. As the United States and its allies continued to impose sanctions on Russia, Brent crude rose to its highest level since 2008. Amidst this turmoil in the market, the stock prices have stopped updating on the National Stock Exchange or NSE in the morning. Many traders and investors reported the glitches on the social media platform which banned them from trading.
According to traders, the Nifty equity index froze minutes before the stock market opened on March 7. The country’s largest broking platform, Zerodha took to social media to inform its clients that the stock-exchange is facing problems. “All the members have a problem with the data feed for NSE shares from the exchange. Please check 20 market depth before placing or placing order on BSE.”
At 9.53 am Zerodha and ICICI Direct mentioned on their social media pages on Twitter that Nifty has started working again. “NSE feeds are working fine now. Orders are being executed on both the exchanges,” the popular brokerage firm wrote.
Zerodha wrote, “We have started getting live data from NSE. To confirm, you can check the Last Trade Time (LTT) in Market Watch before placing the order.
For investors, ICICI Direct said, “You can check the depth of the order book and the last trading time on the exchange before placing the order.”
“BSE is functioning normally today,” the BSE or Bombay Stock Exchange said in a statement amid a technical snag at India’s largest stock exchange.
NSE glitch: A look at past events
This is the second time that NSE has stopped functioning during intra-day trading. On February 24, 2021, the National Stock Exchange of India halted trading following a technical snag in the index price feed. “NSE has multiple telecom links with the two service providers to ensure redundancy. We have received communication from both the telecom service providers that there is a problem with their link due to which the NSE system is affected,” NSE said in a statement.
Following a technical snag, the Securities and Exchange Board of India (SEBI) directed the National Stock Exchange (NSE) on February 24 to fix “personal responsibility” for the exchange’s failure to move the disaster recovery (DR) site. SEBI also asked NSE to determine “why the NSE management failed to shift the operations of NSE from the primary site specified by SEBI to the DR site.”
The market regulator also plans to revamp the existing system which allows smooth settlement of equity trades done in exchanges. Under the new framework, the margins of the market participants will be updated on a real-time basis. According to a report, it has constituted a special committee to implement these changes. SEBI wants traders to execute orders even if the transaction is not taking place in one of the exchanges.
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