Bull Run Continues On Dalal Street; Sensex, Nifty Settle At Record Highs
- Author: Darren Santiago Jul 11, 2017,
Jul 11, 2017, 0:16
The markets continued to consolidate on last week's gains as both Sensex and Nifty hit record high of 31,602.50 and 9,765.90 in Monday's early trade.
After two unsuccessful attempts at restoring the activities of the exchange, the NSE resumed normal trading in cash and derivatives in its third attempt. Elsewhere across the continent, one other stock exchange too went through something similar and halted trading.
A technical glitch disrupted operations at India's biggest stock exchange.
Investors faced problems on the NSE, which had briefly stopped trading in cash and F&O (futures and options) segments.
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NSE also clarified that it did not shift trading to the Business Continuity Planning or Disaster Recovery sites since those are invoked only during some form of disaster, hardware failure or connectivity issues whereas preliminary assessment on Monday indicated a software problem.
"Sebi is in touch with the NSE and is closely monitoring the situation", the regulator said in a statement.
Concerned over the trading disruption at the countrys largest exchange, Sebi held a meeting with senior officials of the NSE and asked them to submit a detailed report on the matter.
On BSE, 1,540 stocks advanced, while 1,112 declined and 157 remained unchanged. Secondly, the system was expected to be rectified quickly and shifting BCP site would have taken longer time.
"We have a target of 32,000 for the Sensex by the end of the year, and probably, we could end breaching the level", said Rajen Shah, Chief Investment Adviser, Tradebulls.