Bombay stock exchange shutdown for three hours due to network outage on Thursday. All its market including including shares, currencies and indexes were halted due to the network outage.
Asia’s oldest stock exchange, BSE, which operates in equities, derivatives, currency and debt segments, was unable to update prices of securities due to network problems.
The exchange had therefore decided to close all markets till the technical issue was resolved.
HCL Technologies Ltd was working to resolve the issue. The market shutdown at 9:30 am, which resumed at around 12:45 pm. This is the longest market shutdown that BSE has faced in the recent past.
Yesterday i.e on Wednesday, the Sensex had rallied had 324.86 points, or 1.27%, to close at 25,841.21, topping its previous all-time high of 25,583.7 touched on June 10.
Last year in August, the Nasdaq, the second biggest stock exchange of USA, shutdown for three hours due to a computer glitch.That was the third glitch in the same week;earlier it was a glitch linked to the trading arm of Goldman Sachs and there was another shut down due to a computer error. So Nasdaq had three shutdowns in the same week last year.
Thankfully the BSE got back on track and resumed trading from around 12.45 pm, first with a pre-opening session.