"After the technical delay in NSE, the broad market rose to new heights supported by IT and pharma stocks which rose on the heels of positive USA job data", said Vinod Nair, Head of Research, Geojit Financial Services.
Trading on the National Stock Exchange hit a major stumbling block on Monday as prices failed to get updated during early morning trading.
The IPO-bound exchange - which issued three statements on the matter today - deeply apologised for the glitch even as trading went off smoothly at rival BSE where volumes surged.
During the meeting attended by senior officials from the NSE and Sebi, the exchange informed that cash market segment did not function normally at the time of opening of market due to technical problems and therefore was closed. Bharti Airtel was the top Nifty gainer, up 5 per cent at Rs 405.70 after the company unveiled a plan to invest Rs 2,000 crore in 3 years to revamp customer touch points under project "Next". "NSE deeply apologises for the glitch".
A screen grab of NSE website
The NSE said that its cash market has restarted at 11.00 a.m. with a 15-minutes pre-open period and that the derivatives segment was opened at 11.15 a.m.
It also added that Securities and Exchange Board of India (SEBI) was closely monitoring the situation. NSE, however, said that since this was largely a software problem, a shift to the disaster recovery center would not have made any difference.
However, a technical problem at the NSE created problems during the day.
"Equity market ended on record closing high and market sentiment remained positive in spite of NSE technical glitch", said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.