Technical glitch hits key India exchange
The glitch forced dealers to strike deals using prices from a rival bourse
Mumbai: India's Bombay Stock Exchange suffered a technical glitch on June 11, leaving real-time data feeds blank for nearly an hour and forcing deals to be struck using prices from a rival bourse, traders said.
The BSE's feeds opened blank when trading began at 9:15am (0345 GMT) before being restored at about 10:00am due to a technical glitch in its calculation system, BSE spokesman Yatin Padia said.
"The system was restored after being restarted," Padia said in a statement to reporters of the key equity exchange.
Although trading was not halted, brokers were forced to use price movements on the competing National Stock Exchange for striking deals, said Alok Churiwala, head of Churiwala Securities in Mumbai.
"These problems come unannounced and definitely cause inconvenience," he said.
The BSE was trading flat on Wednesday after touching record highs this week, on expectations that the new right-wing government led by Prime Minister Narendra Modi will unleash reforms and revive the sluggish economy.
The BSE's benchmark index, known as the Sensex, has gained more than 17 percent so far this year.
The Sensex was up 0.28 per cent or 72.00 points at 25,655.69 points mid-morning.