A major technical error hit the National Stock Exchange (NSE), India's premier stock bourse, on Monday which severely affected trade opening.
Trading at the NSE was reportedly resumed at noon, a little after 1 pm.
Reports state that the stock prices and futures and options quotes did not get updated on Monday morning at aroond 9:40 am and the traders were unable to place orders.
The NSE reportedly admitted that a technical glitch occurred and said had said that it was trying to resolve the issues.
"Due to technical reasons in cash market, trading has been stopped in both Cash and F&O segment of NSE. The technical team of NSE is looking into the issue. Market re-open time will be intimated shortly," the bourse had said in a statement.
The glitch, however, continued as it did not allow trade opening on the bourse. ETNow reports state that market regulator Sebi also stepped into coordinate with the NSE exchange.
The Finance Ministry said that it was aware of the data glitch and added that it was working with Sebi to see of there was any breach. Ministry sources told ET that Sebi has said that the glitch was largely a software issue.
Dealers said that the NSE prices were not updating since the day's beginning and that they were unable to get through, according to the Economic Times reports.
NSE's major rival, Bombay Stock Exchange (BSE), said that it was not facing any such glitches and that trading continued there as normal, according to reports.
NSE had faced a similar technical glitch in May in the F&O segment where many of the traders were unable to exit their intra-day trading positions following an erroneous order cancellation request.