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India's National Stock Exchange Halts Trading Due To Technical Glitch

Market regulator Securities and Exchange Board of India (SEBI) did not immediately respond to Reuters' request for a comment on the NSE trading halt.

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India's National Stock Exchange (NSE) stopped trading in all segments on Wednesday due to a technical glitch, the exchange said in a statement.

"NSE has multiple telecom links with two service providers to ensure redundancy and we have received communication from both the telecom service providers that there are issues with their links due to which there is an impact on NSE system. We are working on restoring the systems as soon as possible," the NSE said.

The country's other major stock exchange BSE, however, said it continues to have normal trading in all segments.

"The NSE outage is unfortunate, especially for this long. Global Exchanges should have adequate backups to ensure that even if there is an outage it's restored fast," said Sandip Sabharwal, a Mumbai-based fund manager.

"Asian Markets have seen a significant crash today and at such times price discovery real time becomes even more important."

Market regulator Securities and Exchange Board of India (SEBI) did not immediately respond to Reuters' request for a comment on the NSE trading halt.

(Reuters)