In a session that was largely marred by a technical glitch on the National Stock Exchange, benchmark indices went on to clock and close at fresh record highs on Monday. The glitch forced the exchange to halt F&O and cash trading on the Nifty for over three hours.
The cash volume of National Stock Exchange is far lower than BSE, which may have happened for the first time in history. After a normal start at NSE, the trading immediately got disturbed due to software issues and that lasted for three hours from 9:15 am to 12:15 pm. The exchange was able to start normal trading at fourth attempt.
Here’s a timeline of the sequence of events that unfolded at the country’s biggest exchange.
9:15 am: The market tested a new record as soon as the opening bell rang, but traders in the exchange said that deals were not going through.
Just few seconds later, NSE stocks were not quoting the correct rates and many brokers complained that they were unable to execute any trades in both cash and the futures and options segment.
9:55 am: The NSE halted trading in the futures and options segment as the entire market plunged into confusion.
10:00 am: The CEO of NSE, J Ravichandran told CNBC-TV18 that the exchange was facing technical issues and they were working to resolve it.
10:45 am: The NSE made a second attempt to open, but failed as no trades were going through.
11:45 am: The NSE made a third attempt to open for trading but to no luck once again as trades did not go through to the frustration of brokers and investors.
12:15 pm: Sources in the finance ministry said they had sought a report from the market regulator SEBI on the glitch.
12:30 pm: After more than 3 hours and 3 failed attempts, the exchange opened for trade successfully.
3:00 pm: NSE issued a statement apologising for the technical glitch and said they were examining the reasons for what happened.
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