India's leading stock brokerage app, Zerodha faced issues with BSE- F&O segment on Friday. Many app users on twitter said that they were unable to exit their Sensex option trades on the low-cost brokerage Zerodha.
In response to that Zerodha responded and said happened due to "issue with the internet service providers (ISPs)".
It is to be noted that Sensex options expire on Friday. "Due to an issue with the internet service providers (ISPs), the orders of some of our users in the BFO segment were affected. Trading in the other segments was unaffected. We are working on updating the status of the affected orders. We apologize for the inconvenience caused," said Zerodha on Twitter. BFO in Zerodha refers to BSE - F&O.
In an update, at around 3:30 pm, the brokerage said that the issue was resolved. However, many traders continued to tweet out complaints saying that due to the issue their money was stuck and that they faced losses.
Sensex tanks 505 points, Nifty ends lower at 19,330 on Friday
Benchmark stock indices Sensex declined by 505 points at close while Nifty settled lower at the 19,330 level due to profit-taking in financial, IT and oil shares after a record-breaking run and weak global trends.
The 30-share BSE Sensex fell sharply by 505.19 points or 0.77 per cent to close at 65,280.45 points as 25 of its constituents ended in red and five in green. The barometer moved between 65,175.74 and 65,898.98 during the day.
Ending its eight-day winning streak, the broader Nifty of the National Stock Exchange declined by 165.50 or 0.85 per cent to settle at 19,331.80. As many as 44 Nifty shares declined while six gained.