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Business News/ Markets / Stock Markets/  Zerodha says 'were not down' as users protest glitches after Modi's 20 tn package announcement
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Zerodha says 'were not down' as users protest glitches after Modi's ₹20 tn package announcement

Market participants were expecting a gap up opening after Prime Minister Narendra Modi announcement of ₹20 trillion relief package to kickstart the Indian economy

A snapshot of Zerodha's Kite platformPremium
A snapshot of Zerodha's Kite platform

Stock brokerage firm Zerodha faced some technical glitch on its Kite platform on Wednesday morning. Traders who use Zerodha's Kite took to Twitter to register the protest after booking losses in the trade. Zerodha, in a blog post on Wednesday evening, clarified that the technical issue was a minor one and occurred only for the three minutes.

Zerodha said, "we had the highest number of concurrent users today and processed the largest number of orders ever. There was absolutely no downtime except for two extremely small hiccups that affected a very small portion of our users."

"Between 9:15 to 9:18, we had intermittent leased line re-connections with NSE at our data centre B. This new data centre went live last week, and the orders from a small segment of users pass through the new leased lines there. Orders flowing through this particular line were slow or rejected for the first couple minutes, and it resolved immediately on its own," Zerodha clarified after the indices were closed on Wednesday.

Market participants were expecting a gap up opening after Prime Minister Narendra Modi announcement of 20 trillion relief package to kickstart the Indian economy.

Traffic graph for Kite from 9:15 to 9:30. Courtesy: Zerodha
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Traffic graph for Kite from 9:15 to 9:30. Courtesy: Zerodha

BSE Sensex zoomed over 1400 points as investor sentiment got a boost from long-awaited relief package.

Zerodha had a base of over 14 lakh active clients as of April 30, NSE data showed.

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Updated: 14 May 2020, 10:13 AM IST
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