'Working with vendor TCS to resolve,' says HDFC Securities after technical glitch

HDFC Securities confronted a technical issue on Thursday that prevented many users from placing orders on the trading platform. Following the snap, the company issued a statement, saying, "We are facing intermittent issues with respect to order placement in the NSE derivative segment. We are working together with our vendor TCS to resolve the same. All other segments, including equity, BSE derivatives, SLBM, and commodity derivatives, are functioning properly."

We shall update you once this is resolved, appreciate your patience and support, it added.

The glitch happened when the market recorded a steep fall due to weakness across all sectors. The 30-share BSE Sensex crashed 1,769 points or 2.10 per cent to settle at 82,497 and the broader NSE Nifty dived 547 points or 2.12 per cent to end at 25,250. India VIX, fear index, spiked 9.86 per cent to 13.17-level. Broader markets (mid- and small-cap shares) were also down.

A surge in crude oil prices due to Iran's missile attack on Israel and Sebi's tightening of F&O (futures and options) rules hit retail sentiment hard, paving the way for the much-anticipated correction in the market.

"The market is facing significant turmoil as sentiment weakens amid unfavorable global cues and rising geopolitical tensions in the Middle East, coupled with Sebi's recent F&O circular and profit booking," said Shrey Jain, founder and CEO of SAS Online.

All the 16 sector gauges -- compiled by the NSE -- were trading in the red. Sub-indexes Nifty Auto, Nifty Financial Services, Nifty Oil & Gas, Nifty Private Bank and Nifty Realty were underperforming the NSE platform by falling as much as 2.88 per cent, 2.59 per cent, 2.72 per cent, 2.61 per cent and 4.36 per cent, respectively.

The overall market breadth was weak as 2,881 shares were declining while 1,107 were advancing on BSE.

Investor wealth, as suggested by the BSE m-cap, fell Rs 9.71 lakh crore to Rs 465.15 lakh crore compared with a valuation of Rs 474.86 lakh crore recorded in the previous session.

Frontline stocks such as Reliance Industries Ltd (RIL), HDFC Bank, Larsen & Toubro, Axis Bank, ICICI Bank, Kotak Mahindra Bank and Tata Motors contributed to the fall today.

Foreign institutional investors (FIIs) offloaded Rs 5,579.35 crore worth of shares on a net basis during the previous session while domestic institutional investors (DIIs) purchased Rs 4,609.55 crore worth of shares, exchange data showed.