Stock Market News: After a bad technical glitch that happened on NSE (National Stock Exchange) on Wednesday, the SEBI (Securities Exchange Board of India) had asked National Stock Exchange to submit a report on the technical glitch that hampered day trading, as soon as possible.
SEBI had demanded reasons from National Stock Exchange, why the trading was not immediately redirected to the emergency website once the technical glitch was sensed. The emergency site was brought operational last year and a parallel site has been setup in another city in Mumbai itself.
Throughout the day SEBI officials said they were in touch with the NSE after the technical glitch caused a trading halt at 11:40 A.M. The issue was said to be with the Telecom providers. NSE was asked to keep market participants and players updated with the situational developments.
The trading halt went on until 3:30 P.M in the afternoon. And, once the site was restored extra hours were given until 05:00 P.M in favour of the market participants.