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Bombay Stock Exchange shut by outage Bombay Stock Exchange resumes trading
(about 2 hours later)
India's main stock market, Bombay Stock Exchange (BSE), has temporarily shut trading due to a network outage. India's main stock market, Bombay Stock Exchange (BSE), has resumed trading after being disrupted due to a network outage.
The move came as shares listed on exchange, as well as its indices, stopped updating on Thursday morning. Shares listed on the exchange, as well as its indices, stopped updating for nearly three hours on Thursday morning.
The exchange's main stock index, the Sensex, had risen in early trade before the outage. The main stock index, the Sensex, had risen in early trade before the outage.
The exchange said that it was working to resolve the issue and that "the markets will restart" once the problem had been fixed. The Sensex had risen to a fresh record high on Wednesday as investors hoped that the new government will announce economic reforms in its first budget.
Dipen Mehta, a member of the stock exchange, was quoted as saying by Indian news website Firstbiz that the decision to halt trading was the right one.
"Otherwise it would create problems at the broker end," Mr Mehta said.
The Sensex had risen to a fresh record high on Wednesday as investors hoped that the newly elected government will announce reforms to revive the economy in its first budget.
The government is scheduled to present the budget on 10 July.The government is scheduled to present the budget on 10 July.
Dipen Mehta, a member of the stock exchange, was quoted as saying by Indian news website Firstbiz that the decision to halt trading on Thursday morning was the right one.
"Otherwise it would create problems at the broker end," Mr Mehta said.
The stock exchange suffered another technical glitch in June, which left real-time data feeds blank for nearly an hour and forced deals to be struck using prices from a rival exchange, traders said.