ZeeBiz raises critical questions on NSE trading glitch; Anil Singhvi demands inquiry, asks who will pay compensation for loss?
The trading on NSE was completely stopped on Wednesday for a long time after technical glitches appeared on the exchange. Zee Business seeks answers to some very pertinent questions. These questions have emerged from the feedback the channel has taken from investors, traders, and market experts. The channel is raising these top questions demanding answers for the same
The trading on NSE was completely stopped on Wednesday for a long time after technical glitches appeared on the exchange. Zee Business seeks answers to some very pertinent questions. These questions have emerged from the feedback the channel has taken from investors, traders, and market experts. The channel is raising these top questions demanding answers for the same. This is what Managing Editor Anil Singhvi says about this whole fiasco.
Q1 – Why was the delay made in informing people about the resumption in trading from 3:45 pm? Why was the information, about restarting trading on Wednesday, made at 3:20 pm, minutes before the official closing time?
The Managing Guru said that it is a well known fact that the brokers start reducing day’s positions after 2:30 - 3 pm. The brokers prefer that the traders who want to rollover their positions should do it without leaving them for the day of expiry, which is Thursday. The information by exchanges came very late and by this time everything was over, Singhvi said. By 3:20 pm, positions were already squared off. At least, the exchanges could have informed that they will be resuming the trading session.
See Zee Business Live TV Streaming Below:
He said that it was the main reason which resulted in great losses for investors and traders.
Q2 – Should there be an investigation for high market action between 3 pm and 3:30 pm?
The Market Guru said that there should definitely be an investigation on trading between 3 pm and 3:30 pm. There were many stocks which went up or down unjustifiably. This was because the brokers had to square off intraday positions at whatever cost. There was 34 per cent intraday movement, he said.
Watch Zee Business Tweet Video Below:
3-3:30 PM पर शेयरों में उतार-चढ़ाव की जांच हो...
— Zee Business (@ZeeBusiness) February 25, 2021
Q3 – Who will compensate the investors whose positions were squared off without informing them?
The Managing Editor said that whoever is responsible should be brought to book. The ultimate responsibility however rests with the NSE. He also said that the role of the telecom providers should also be investigated.
Q4 – When will inter-operability be implemented in true sense?
There were problems inter-operability in exchanges. Brokers generally do not know about this. If they do know, they have not explained this to their clients.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.