India Insight

Stock market glitches in India over the past few years

India’s stock market, like its peers across the world, is no stranger to sudden trading halts due to technical glitches. On Thursday, India’s second-biggest exchange operator BSE halted trading across all its segments due to a network outage. Trading on the NSE bourse was not affected.

The three-hour outage was the longest in recent memory and follows three earlier outages in a year that has seen stocks scale fresh peaks on expectations of economic revival from a new government.

The BSE, Asia’s oldest stock exchange, has more than 5,000 listed companies. Data from the World Federation of Exchanges shows shares worth $85 trillion were traded on the BSE last year, compared to $479 trillion for the NSE, India’s leading stock exchange.

Here’s a list of glitches faced by India’s stock market exchanges over the past few years:

*July 3, 2014: The BSE resumed trading after a three-hour network outage that is being investigated. Preliminary reports will be sent to stock market regulator SEBI and the finance ministry. The trading disruption was the longest suffered by the BSE since at least 2010, a spokesman said.

Markets this week: Coal India, ITC top Sensex losers

The BSE Sensex lost 3 percent in the week ending Aug. 2, extending its losses from the previous week and marking its biggest weekly fall since mid-March.

Markets remained on the edge on uncertainty over how long the Reserve Bank of India (RBI) would continue measures to defend the rupee. The rupee fell 3.4 percent over the last five trading sessions and ended at a record closing low on Friday.

The central bank left the repo rate and cash reserve ratio unchanged at its policy review on July 30, but said it will roll back recent liquidity tightening measures when stability returns to the currency market.

Tracking Sensex: L&T top loser this week

By Aditya Kalra and Sankalp Phartiyal

The Sensex lost 2 percent and the Nifty slipped 2.3 percent in a tough week for stocks as Indian markets remained cautious ahead of the Reserve Bank of India (RBI) policy review on July 30.

The benchmark Sensex, which ended in the red for three of five trading sessions, touched a 2-1/2 year high during the week as consumer goods shares surged.

The rupee continues to be in focus as it hit a five-week high on Friday. The RBI tightened liquidity further on Tuesday to support the rupee and the central bank is likely to hold rates at its policy review next week.

Markets struggle: At least 100 stocks hit 52-week low on NSE

Indian markets struggled in trade on Thursday with the Sensex falling more than 200 points while the Nifty sank over 50 points. Weak Asian markets also weighed as the Nikkei slumped more than 800 points on worries the U.S. Fed would trim its stimulus programme in the coming months.

The rupee also remained weak, trading below 58 versus the dollar, as Finance Minister P. Chidambaram did not announce any concrete steps to arrest its fall.

At least 100 stocks had touched their 52-week low on the National Stock Exchange (NSE) during trade, data showed. Here’s a look at some stocks that hit a one-year low during Thursday’s trade:

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