Submit :
News                      Photos                     Just In                     Debate Topic                     Latest News                    Articles                    Local News                    Blog Posts                     Pictures                    Reviews                    Recipes                    
  
Technical glitch forces BSE to shut down markets
On today morning the Bombay Stock Exchange had to shut markets as due to network outage on share prices and indices such as the Sensex stopped updating. HCL, the network service vendor of BSE, is trying to resolve the glitch. The markets were shut at around 9.53 a.m., according to last updated time on the BSE.

In last two months, this is the second time when BSE has to face some similar type of technical glitch. Such outages do not augur well for the BSE, which has been trying to take on the NSE by introducing new segments such as options trading.

The market shutdown will not impact investors as if they have shares in their demat account, they can sell them on the National Stock Exchange. Similarly if they want to buy shares, they can buy them on the NSE, as reported by NDTV.

However, for the traders who mostly undertake intra-day trading shut-down of BSE markets is bad news.

Traders who have taken a short position (sold shares that they don't own), will have to pay a hefty penalty if they are not able to square off their trades by the end of the day. Those who are long (bought shares on margin money) may have to carry such trades for delivery and pay in full if BSE does not open today.

COMMENTS (0)
Guest
Name
Email Id
Verification Code
Email me on reply to my comment
Email me when other CJs comment on this article
}
Sign in to set your preference
Advertisement

Interesting content

merinews for RTI activists

Create email alerts

Total subscribers: 208557
Advertisement
Pro Kabaddi League
Pro Kabaddi League Schedule
Pro Kabaddi League Points Table
Not finding what you are looking for? Search here.