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Zerodha reports glitches in NSE trading as market goes in the red

Zerodha reports glitches in NSE trading as market goes in the red

Zerodha’s market intel bulletin read, “There is an issue with data feeds for NSE stocks from the exchange across all brokers. 

Soon after this became viral, Users took to Twitter to vent their frustration and share some absolutely hilarious memes Soon after this became viral, Users took to Twitter to vent their frustration and share some absolutely hilarious memes

Online broking firm Zerodha on Monday reported issue with data feeds for NSE stocks on its app and website as Indian bourses opened in red. It also advised members to check 20 market depth before placing orders, while adding that users are advised to place orders on BSE instead.
 
“There is an issue with data feeds for NSE stocks from the exchange across all members. Please check 20 market depth before placing orders or place orders on BSE,” Zerodha tweeted.

The online broking firm also issued an update regarding the same on its market intel bulletin. As per this bulletin, Zerodha and NSE are working to resolve this issue.
 
Zerodha’s market intel bulletin read, “There is an issue with data feeds for NSE stocks from the exchange across all brokers. Please check 20 depth before placing orders or place orders on BSE. Order placement is not affected. We’re checking this with NSE.”
 
According to downdetector.com, 73 per cent users reported glitches in trading, 22 per cent in operating the website and 4 per cent in the mobile app.
 
Soon after this became viral, Users took to Twitter to vent their frustration and share some absolutely hilarious memes. One of the users wrote, “What is happening with NSE again no price change in terminal what should we do, who will be responsible for loss?”

So, what is the 20 market depth that Zerodha is talking about? 20 market depth or level 3 data refers to “the market depth with the best 20 bids and offers for a stock,” as per Zerodha.

Almost an hour later, Zerodha updated users that they have started receiving live data from NSE besides indices.Users have also been asked to check the last trade time (LTT) in the market watch prior to placing orders. 

"We have started receiving live data from NSE except for indices. To confirm, you can check the last trade time (LTT) in the market watch before placing orders," Zerodha tweeted. 

Meanwhile, National Stock Exchange (NSE) also confirmed that trading in all segments is functioning normally. It further added that NIFTY and BANKNIFTY indices, however, are not getting broadcasted intermittently.

"Trading in all segments is functioning normally. However, NIFTY and BANKNIFTY indices are intermittently not getting broadcasted. The Exchange is working on resolving the issue and shall keep the members informed," the NSE tweet read.

Sensex crashed over 1,700 whereas Nifty slipped below 15,800 amid weak global cues. All 30 Sensex stocks, however, were trading in green. Investors lost more than Rs 6 lakh crore in early trade today amid calls for stricter sanctions against Russia over its invasion of Ukraine. M-cap of BSE listed firms dropped by Rs 6.28 lakh crore after investor wealth declined to Rs 240.57 lakh crore against rs 246.85 lakh crore in the previous session. 
 
Portfolio Management Services, Hem Securities' Head Mohit Nigam told BusinessToday.In, “On the home front, investors will be watching the outcome of the state elections in five states on March 10: Uttar Pradesh, Uttarakhand, Goa, Punjab and Manipur. Investors all throughout the world are weighing the economic risks of this protracted conflict along with this macroeconomic industrial output data, as well as the direction of foreign fund flows and global commodity price variations, which will influence investor mood.”

Also read: Share Market LIVE: Sensex crashes over 1600 pts, Nifty below 15,800 amid weak global cues

Also read: 'Sankranti special gift’ : Users mock Zerodha after app goes down

Also read: Rs 6 lakh crore investor wealth wiped out as crude oil shock roils Sensex, Nifty

Published on: Mar 07, 2022, 10:35 AM IST
Posted by: Mehak Agarwal, Mar 07, 2022, 10:25 AM IST