Bombay Stock Exchange reopens after outage | Business | Economy and finance news from a German perspective | DW | 03.07.2014

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Bombay Stock Exchange reopens after outage

Trading at India's second-biggest stock exchange resumed Thursday after a network outage had caused share prices to stop updating.

A spokesman for the Bombay Stock Exchange said all markets were open again after a three-hour interruption.

"All orders that are in the system will get cancelled," BSE spokesman Yatin Padia said. "Trades that took place prior to the outage will be honored."

About 15 minutes after trading began in the morning, a computer glitch caused the 30-share Sensex index to stop updating.

BSE officials had blamed the problem on the exchange's network provider, HCL Technologies. It was the second time in a month that a technical hiccup had interrupted trading.

Some experts used news coverage of the outage as a platform to call for the establishment of an emergency management system to prevent such issues in the future.

On Wednesday, the Sensex soared to a record high on expectations that India's new government, led by nationalist Narendra Modi, would announce business-friendly reforms while introducing the country's new budget.

The BSE is India's oldest exchange but is only one-tenth the size of the National Stock Exchange.

cjc/hg (Reuters, AFP, dpa)