BSE Trading Turnover Surged After Technical Snag Hits NSE

Trading turnover on the BSE surged after a telecom disruption halted all trade in rival National Stock Exchange’s cash and derivatives segments.

Asia’s oldest bourse did a trading turnover* in the cash market of over Rs 40,691 crore by the end of trade on Wednesday, according to data available on its website. That compares with the BSE’s average daily trading turnover of Rs 5,200 crore in January.

To be clear, today’s BSE cash market turnover includes a Rs 29,779-crore Bosch block deal, which was an inter-se transfer between promoters, according to Bloomberg. Excluding that deal, the day’s turnover figure stands at over Rs 10,900 crore versus Rs 4,520 crore on Tuesday Feb. 23.

The BSE derivatives segment witnessed a Rs 3.12-lakh-crore turnover at the end of trade on Wednesday. For the month of January, BSE did an average Rs 2.46 lakh crore in daily turnover in the segment.

This came as the NSE halted trading mid-morning, in its cash and derivatives segments, following issues with telecom links of its two service providers, which, it said, impacted the system and stopped prices from updating.

It is not yet clear why NSE was not able to swiftly move to its backup systems. The exchange was not able to respond to BloombergQuint’s query earlier in the day.

Trading finally resumed on the NSE at 3.45 pm, well after the trading session ordinarily ends, and both exchanges ran an extended session till 5pm.

*Turnover data for BSE today includes trades during extended trading hours.