Trading resumes on NSE after being shut for majority of the day, trading extended till 5 pm
Market timing may be extended till 5 pm. NSE has approached Sebi and other exchanges for increasing the trading timing
February 24, 2021 / 03:35 PM IST
The cash and futures markets of the National Stock Exchange (NSE) was shut in the morning following a technical glitch. The benchmark indices – NSE Nifty and Bank Nifty - are still not refreshing the cash market rates.
Market trading timing has been extended. NSE will open at 3.30 pm and close at 5 pm, a source close to the development told Moneycontrol.
“We are working on restoring the systems as soon as possible. In view of the above, all the segments have been closed at 11.40 an and will be restored as soon as issue is resolved,” the NSE said.Also read: Technical snag halts trading on NSE
“NSE has multiple telecom links with two service providers and we have received communication from both that there are issues with their links, due to which there is an impact on the NSE system, it said.
“NSE’s Nifty and Bank Nifty cash prices have not been updating since morning. It is a recurring problem with this exchange and we have no alternative,” a broker told Moneycontrol.
This is not the first time that such a technology issue is plaguing the NSE. The exchange had faced it several times last year also. Sebi had penalised the exchange for this glitch.
Sebi is also planning to come out with a policy for compensating losses stemming from technical issues.