Is Zerodha down? Brokerage flags BSE F&O issue on Sensex expiry day

Zerodha on September 10 flagged an issue affecting price updates and order placement across brokers for some futures and options (F&O) contracts on the BSE.

“There is an issue with price updates and order placement across brokers for some F&O contracts on BSE. We’re in touch with the exchange to resolve this at the earliest,” the brokerage said.

The issue comes on September 10, which is the weekly F&O expiry day for the Sensex, making timely price updates and order execution particularly important for traders active in index derivatives.

What did users say?

Concerns over the issue also surfaced on social media, with several Zerodha users taking to X to report problems with order placement and cancellation.

“Who is going to take responsibility?” one user posted on X.

Another user said the issue was still unresolved, particularly for pending Sensex options orders. “Issue still exists, existing pending orders for SENSEX 10th w SEP 75000 CE BFO are not able to cancel, so that i can place new orders,” the user wrote.

Another user reported being unable to execute trades, commenting, “Not able to buy or sell, do something stuck in a trade.”

A further user urged Zerodha to respond to the complaints and take responsibility for the reported glitch.

Please note: This report is based on user-generated content from social media. LiveMint has not independently verified the claims and does not endorse them.

Indian stock market today

India's benchmark indices remained volatile in trade today on the back of BSE F&O expiry day. Indian markets initially opened on a weak note as crude oil prices stayed above the $100-per-barrel mark amid persistent geopolitical tensions. The elevated oil prices kept investor risk appetite subdued, while markets also remained focused on upcoming US inflation data for clues about the Federal Reserve's policy trajectory.

The indices subsequently recovered from their early losses. The Sensex climbed 147 points, or 0.1%, to hit an intraday high of 74,910.96, while the broader Nifty 50 gained around 63 points, or 0.26%, to reach an intraday high of 23,494.95.

V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said the Nifty's move below the 23,500 resistance level had weakened the market structure. He warned that technical and fundamental factors were both pointing towards further correction, citing Brent crude above $101, the US 10-year yield at 4.83% and an increased probability of a Fed rate hike this month. He also said worsening Middle East tensions were adding to market concerns.

He also pointed out that even though India’s forex reserves are comfortable and the current account deficit is under control, if crude remains above $100 for an extended period of time, it will impact India’s GDP growth this year with its fallout on corporate earnings too.

He further identified the sectors likely to face the greatest pressure from elevated crude prices, while pointing to defensives and segments with relatively inelastic demand as better placed.

“The sectors that are likely to be impacted are energy sensitive sectors like aviation, paints, adhesives, tyres and chemicals. In such an environment defensives like FMCG and sectors with inelastic demand like pharmaceuticals and healthcare will remain resilient. Growth sectors like digital platform companies continue to be on strong footing. Even though banking stocks, particularly the large private sector players, are technically weak, they are fundamentally strong. The risk-reward ratio in this segment favours reward, for long-term investors.",” said Vijayakumar.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.