NSE glitch: Trading on stock exchanges extended until 5 pm

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Trading on the domestic stock exchanges has been extended until 5 pm after the cash and futures markets of the NSE came to halt in the morning due to a technical glitch.

Ashishkumar Chauhan, MD and CEO of BSE said, “BSE equity and equity derivatives markets will remain open till 5 pm today as decided jointly between exchanges today. All other markets timings will remain as normal.”

In a separate note, NSE said that the market will re-open at 3.45 pm and will close at 5 pm. Here are the other key details:

F&O Segment Normal Market will Re-open as follows: Normal Market open time : 15:45 hrs Normal Market close time : 17:00 hrs Trade Mod cut off time: 17:30 hrs CD Segment Normal Market will Re-open at 15:30 hrs COM Segment Normal Market will Re-open at 15:30 hrs SLB Market will Re-open at 15:30 hrs

CM Segment Market will Re-open as follows: Pre-Open open time : 15:30 hrs Pre-Open* close time : 15:38 hrs (random closure in last minute) Normal Market open time : 15:45 hrs Normal Market close time : 17:00 hrs Call Auction Illiquid session open time (1 sessions of 1 hour) : 16:00 Post close start time : 17:10 hrs Post close end time : 17:30 hrs Trade Mod cut off time: 17:45 hrs

The NSE Nifty index traded 73 points higher at 14,781.05 in early extended trade, while the BSE Sensex was 332 points higher at 50,083.

Commenting on the halt and F&O expiry, Anand James, Chief Market Strategist, Geojit Financial Services said, “Expiry eve is a crucial day for expiry related trades as time decay sets in. As indices froze a little after 10 am, F&O trades that reference such benchmark indices also slowed down. With hardly an hour’s trade possible for such index-based traders the higher margins on F&O positions may have been a double whammy. Towards this end, BSE being open may not have been much solace, but certainly a backup avenue for cash traders. Fortunately, VIX had calmed down after Monday’s steep fall, and the extended session post 3. 45 pm could help settle things.”

As of Tuesday, Nifty and Bank Nifty rollovers were at 40.9 and 36.7 respectively, in line with what is usually seen on similar days of previous expiries.

Earlier in the day, NSE spokesperson said that the exchange has multiple telecom links with two service providers to ensure redundancy. “We have received communication from both the telecom service providers that there are issues with their links due to which there is an impact on NSE system. We are working on restoring the systems as soon as possible.”