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Glitch In NSE: Finance Ministry Seeking Report from SEBI & NSE

The Ministry of Finance has sought a report from capital markets regulator Securities and Exchange Board of India on the technical glitch that brought trading to a halt for three hours on Monday morning on National Stock Exchange, even as India’s largest stock exchange took three attempts to resume normal markets.

SEBI will likely submit its interim report to the Ministry of Finance by today evening, CNBC TV18 reported citing unidentified sources in the ministry.

SEBI is in touch with NSE and is closely monitoring the situation. NSE has reportedly informed the Ministry of Finance that the data glitch was due to a software issue, while the market regulator SEBI is also said to be coordinating with the exchanges on the technical issue.

NSE resumed normal trading in cash and derivatives at 12.30 pm in third attempt today, after its two attempts at starting the trade failed.

There were also reports of intermittent disruptions in the third special 15-minute pre-opening session during 12.15 am-12.30 am. Meanwhile, exchange data also showed a huge gap between buy price and sell price of some top scrips, including ITC Ltd, which was being quoted at Rs335 on buy side, but at Rs321 on sell side.

NSE suffered from a major technical glitch today morning, with price quotations for individual listed stocks not updating on Monday, which led to a halt in trade on India’s largest bourse, even as the rival stock exchange BSE seemed to assuage investor concerns saying that trading on its platform continues as usual.

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