Zerodha users face issues selling stocks with CDSL

On Monday, online stock brokerage firm Zerodha informed about an issue related to Central Depository Services (India) Limited (CDSL). The broker said that investors might face a problem with authorising the sale of stocks due to an issue related to the depository.

Zerodha further informed that one can skip the CDSL authorisation option if an investor wishes to sell holdings on Zerodha's Kite until CDSL resolves the authorisation issue. "You can now skip CDSL authorisation if you wish to sell your holdings on Kite until CDSL resolves the authorisation issue. Please make sure to authorise your holdings by 5 PM," Zerodha tweeted.

CDSL is one of the two depositories in India and the only listed one in the country. It received a certificate of commencement of business from SEBI in February 1999. It facilitates holding and transacting in securities electronically and facilitates the settlement of trades on stock exchanges.

"You may face an issue with authorizing the sale of your stocks due to an issue with CDSL. We are in touch with CDSL to have the issue resolved at the earliest," Zerodha had informed in a tweet earlier today.

After touching an all-time high of 61,894.33 in opening deals, the 30-share Sensex was trading 510 points at 61,816. Similarly, the Nifty surged 157 points to 18,495.9 after touching a new intra-day record of 18,521 in initial deals.

Zerodha is India's largest trading platform with more than 6 million users. The platform has become integral to the rise of first-time investors in the stock market in the recent past.