Technical glitch at National Stock Exchange (NSE) had investors fuming with ire as traders with short positions incurred losses to the tune of thousands of crores and not sure how the exchanges and SEBI would deal with the Black Out blue which lasted for over three hours. BSE was trading during the period and stock prices shot up with investors short on NSE unable to cover their trades. No communication from NSE for hours was a shocker when Indian markets have global investors and huge positions which do not augur well for our stock markets.
Technical glitch happens all over the world including in the US but we need to have a strong regulator that takes fast decisions to stall losses that may happen on account of it. BSE too should have been halted its operations till technical glitches on NSE were rectified to prevent stock prices disparity and high volatility that causes damage to investor confidence. We are lucky to have world’s best software companies and let us hope that corrective measures are taken urgently so that such incidents do not happen in future.
(The views expressed by the author in the article are his/her own.)
