NSE price quotes not updating after system glitch

Mumbai: Trading was disrupted at India`s National Stock Exchange on Monday morning, after price quotations for individual stocks and indexes failed to update, but the exchange`s interim chief executive said it was working to resolve the "technical glitch".

The technical problem on individual stocks affected traders from the start of Monday`s session, preventing them from placing trades, multiple dealers said.

The exchange`s stock indexes updated when trading opened but also stopped soon after. Futures and options began trading normally initially, but the NSE has stopped providing quotes, the dealers said.

The NSE`s interim CEO J. Ravichandran to CNBC-TV 18 was working to resolve the issue.

"At this point our focus is to re-start the market and then we will have to analyse the cause."

NSE`s rival, BSE Ltd, said its exchange was operating normally. The benchmark BSE index rose as much as 0.77 percent to a record high, surpassing its previous milestone hit on June 22.

"It may be due to some technical glitch," said a dealer at a domestic brokerage.

Indian exchanges have previously suffered from occasional trading disruptions though they have tended to be quickly resolved.

The NSE is pursuing a listing that bankers say could raise up to $1 billion though it has yet to win approval from market regulator Securities and Exchange Board of India, which is looking into a disclosure from the exchange that some brokers may have been provided unfair access to its servers.