Bombay Stock Exchange shut after network outage

Thursday 03 July 2014 09.31
Bombay Stock Exchange hit by computer network problems
Bombay Stock Exchange hit by computer network problems

The Bombay Stock Exchange, India's second-biggest financial market, shut down during morning trade today due to computer network problems, a spokesman said.

"Due to a network outage, BSE decided to close all markets," spokesman Yatin Padia said after trading stopped earlier this morning.

The outage lasted roughly three hours, with trade resuming after technicians scrambled to resolve the problems, BSE chief executive Ashish Chauhan said.

The BSE's Sensex index is India's most-tracked stock market index, measuring the performance of 30 major companies across various industries and seen as a  bellwether of Indian markets.

The BSE suffered another technical glitch last month, which left real-time data feeds blank for nearly an hour and forced deals to be struck using prices from a rival bourse. 

The Sensex ended at a record high yesterday on hopes the newly elected government will announce reforms to revive the economy in its first budget next week. 

It has soared more than 22% this year, making it one of the best performers in the region, largely thanks to the rise of Prime Minister Narendra Modi, whose right-leaning Bharatiya Janata Party won a landslide victory in May's general election.