Sensex surges 355 points to record high

Marcus Newton
July 11, 2017

In a related development, a technical glitch occurred during the early-morning trade session on Monday and impacted trading on the Cash and Future and Option (F&O) segments.

As per the NSE website, the cash segment saw trading worth ₹6,255 crore on Monday.

The exchange had also said that in the F&O segment, members would be given a 15-minute window to cancel their outstanding orders and the window was to be available from 1215-1229 hours.

"Due to technical reasons in the cash market, trading has been stopped in cash and F&O segment of the NSE", the exchange said. In today's trading, Nifty gained as much as 116 points to reach the all-time high of 9,772 mark.

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The Securities and Exchange Board of India also issued a statement that the NSE is facing a technical glitch and that the regulator is "closely monitoring the situation".

The NSE was able to resume trading for cash, as well as stock indexes and futures, when markets re-opened at midday, but multiple dealers said individual stocks were not updating normally or were suffering wide gaps in bid and offer prices. The ministry has sought a report on the issue. Meanwhile, the Bombay Stock Exchange (BSE) stated that its operations were progressing as normal.

The Indian market opened the week with on positive note with NSE Nifty closing on record high on Monday, according to media reports. The system was expected to be rectified quickly and shifting to a BCP (business continuity plan) site would have taken a longer time, added the source. The matter has also been referred to the Standing Committee on Technology to review the problem and approve measures to prevent recurrence of such glitches. 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.

Other reports by MaliBehiribAe

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