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.
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.