NSE Traders Encounter Odd Issue With Order Placement After Markets Open For Trading

Several traders claimed to be facing issues while placing pre-market orders on the National Stock Exchange (NSE) for a brief period after markets opened for trading on Monday.

What Happened? Several traders took to Twitter on Monday morning to disclose an odd issue where sales orders via brokerages were getting automatically rejected by the NSE.

Per a tweet by Redbox Global India, traders began facing an issue with order placement at 09:13 am on Monday just before trading opened for the week. The real-time news service in a subsequent tweet at 09:24 am that the issue had been resolved.

While the outage didn’t last too long, some disgruntled traders were spotted taking the issue up with their brokerages on Twitter.

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The NSE, meanwhile, hasn’t acknowledged or disclosed what caused the issue.

Now, technical glitches don’t happen all too often on the NSE, equity traders do have the choice of switching the exchange from the NSE to the BSE, to square off any open positions there. That said, traders looking to settle an existing position in the derivative segment have little to go on in terms of a solution.

In the case of orders getting placed but not executed due to a technical issue, popular stockbroker firm Angel One Ltd recommends traders cancel their orders immediately. That’s because when the markets finally get reopened after an outage, they might do so with a gap.

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Posted In: derivativesequity investmentNational Stock ExchangeNSEtechnical glitch