India's HDFC Securities briefly halts equity trading on NSE, exchanges say ops normal

MUMBAI (Reuters) – Indian brokerage HDFC Securities on Monday briefly stopped equity trading for its customers on the National Stock Exchange of India (NSE) due to an unspecified “technical glitch”, an issue it later said was resolved.

Both Indian bourses – NSE and its rival BSE Ltd – issued statements saying their systems were working normally after some investors complained about the issue on social media.

The incident comes after NSE shut down last week for nearly four hours due to what it said was a telecoms network glitch. The country’s largest stock exchange has faced criticism from brokerages and traders over how it handled the situation.

“We have blocked trading in NSE cash due to a technical glitch,” HDFC Securities said on Twitter. “We request customers to place orders on BSE,” it said, before saying around 20 minutes later that customers were then free to place orders.

HDFC Securities director Ashish Rathi told CNBC-TV18 the brokerage’s IT team was still analysing if this was an issue at the broker or at the NSE.

On Monday, NSE said all operations on its platforms were “functioning smooth and normal”.

BSE said there were no issues and that all segments were working normally. BSE Chief Executive Ashish Chauhan separately said on Twitter the statement was issued in response to brokers and investors reporting problems on a competing exchange.

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