'Market at all-time high and I couldn't book profit,' say Zerodha's customers amid tech glitch

On Monday, while the Indian stock market had touched a new record high, Zerodha's customers were left high and dry as they couldn't login due to tech glitches at the low-cost brokerage. 

Zerodha's clients were unable to access Kite web, making them hit social media platforms to complain about the same. In a post on X (formely Twitter) Zerodha acknowledged the glitch and suggested its clients log into the Kite mobile app.

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Over an hour later on Monday morning, Zerodha said the issues were resolved and that they "regret the inconvenience caused".

However, many netizens said the damage was already done. 

"It's not acceptable when Market is ATH and I was about to take some position and book some profit and zerodha didn't  worked.. and now shares down," said one Zerodha user on X platform. 

"They make 70cr profit per employee but can't fix glitches and bugs! this is getting crazy now," fumed another Zerodha customer. 

"Booking train ticket from IRCTC is easier today than booking profit from Zerodha Kite," joked one X user. 

"If any other broker had so many tech issues in such a short span of time, they would be out of business by now," said an X user while referring to similar outages seen on Zerodha in recent past. 

Zerodha had in November faced some issues where its users were unable to see executed orders in the orderbook due to an intermittent issue but the executed orders were being updated on the positions page.  In October, Kite witnessed a similar technical issue, which was later fixed. Some Zerodha clients had earlier suggested that the trades were being executed but were not reflecting in the position section.

Financial and energy stocks led Indian shares to new all-time highs on Monday as key wins for the ruling Bharatiya Janata Party in state elections lifted the domestic market, already boosted by strong macroeconomic data and easing global interest rate expectations.

The NSE Nifty 50 index rose 2.07% to 20,686.80 points, notching a record high for second session in a row. The S&P BSE Sensex climbed 2.05% to 68,865.12, a record close.

Both the benchmarks logged their best session in 14 months and settled in the over-bought zone.