The technical team of NSE is looking into the issue.
In a statement, capital market regulator Securities and Exchange Board of India (Sebi) said that National Stock Exchange of India Ltd (NSE) stopped trading on Monday morning, reportedly, due to a "technical glitch".
Over one-and-a-half years ago too, in December 2015, NSE suffered a disruption that halted trading in the futures and options and cash segments.
A screen grab of NSE website
During the meeting attended by senior officials from the NSE and Sebi, the exchange informed that cash market segment did not function normally at the time of opening of market due to technical problems and therefore was closed. According to the recommendation, which NSE was against adopting, any eventuality arising out of a technical snag such as the one that paralysed the bourse could have been avoided. Although trading resumed at 9,727.65 points. The 50-share NSE Nifty also rose by 105.25 points, or 1.09 per cent, to 9,771.05, its record closing high, breaching its previous record high of 9,675.10 recorded on June 5.
"SEBI is in touch with NSE and is closely monitoring the situation", Sebi said. Meanwhile, the Bombay Stock Exchange (BSE) stated that its operations were progressing as normal. "The system was expected to be rectified quickly and shifting to the BCP site would have taken longer", it said, adding that the glitch was not related to any kind of cyberattack.
The NSE reportedly admitted that a technical glitch occurred and said that it was attempting to resolve the issues. 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. "We expect an interim report from Sebi by the end of the day", the sources said.