Five recent stock market glitches in India
As the NSE resumed trading after 3 hours of closure today morning following a technical issue. Here is a look at recent instances of stock market glitches in India
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Mumbai: As the National Stock Exchange resumed trading after three hours of closure on Monday morning following a technical issue, Mint looks at recent instances of stock market glitches in India.
1 November 2010: BSE Ltd closed trading for two and half hours, from 12 noon, due to technical glitches. This was due to trading members facing issues in trade confirmation. The trading started only after 2:30 pm.
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5 October 2012: An erroneous trade by an Emkay dealer causes a 900-point fall in Nifty, in two minutes, resulting in the index hitting the lower circuit filter. The Nifty tumbled after a dealer at brokerage Emkay Global punched a wrong order on behalf of an institutional client. Sebi rules require exchanges to shut trading for two hours if the benchmark indices hit either filter. NSE shut the equity segment for only 10 minutes
7 April and 9 April 2014: Market participants faced difficulties in executing trades due to connectivity issues and trades not being executed. Trading was halted for 30 minutes and 15 minutes respectively on BSE.
3 July 2014: A technical snag left many brokers on BSE’s network unable to connect to the exchange servers caused the bourse to halt trades for over three hours.
10 July 2017: National Stock Exchange stopped trading for three hours. NSE quotes in equity were not updating and trades were not going through in early hours of trades. To maintain price parity between equity and derivatives prices, the exchange decided to shut down cash and futures and options (F&O) segments.