During the meeting attended by senior officials from the NSE and Sebi, the exchange informed that cash market segment did not function normally at the time of opening of market due to technical problems and therefore was closed.
Recently, across the globe, there have been several incidents in which the trade at major stock exchanges has suffered technical glitches, causing markets disruption in one way or the other. Two sources familiar with the matter said it was an internal issue, ruling out any external cyber attack or hacking.
Although the NSE resumed for trade at around 11.15am, glitches continued to affect the operations, leading to a subsequent halt in the resumption of full trade, as pre-open session orders were still not getting executed.
"Equity market ended on record closing high and market sentiment remained positive in spite of NSE technical glitch", said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
Full-fledged trading resumed during the mid-afternoon session at around 12.30 p.m.
A BSE spokesperson said the exchange is not facing any problems. "NSE deeply apologises for the glitch".
NSE also clarified that it did not shift trading to the Business Continuity Planning or Disaster Recovery sites since those are invoked only during some form of disaster, hardware failure or connectivity issues whereas preliminary assessment on Monday indicated a software problem.
Dealers reportedly said that the NSE prices were not updating since the day's beginning and that they were unable to get through, according to the Economic Times reports. The NSE has been the largest stock exchange in India in terms of total and average daily turnover for shares every year since 1995, as per Sebi data.