The disruption in tech giant Microsoft’s services was felt worldwide on Friday. The downing of many popular cloud services, including Microsoft’s Windows 10, had such a worldwide impact that people started calling the incident a global tech lockdown. However, even in such a big global crisis, there was no impact on the functioning of the Indian stock markets.
Exchanges and Clearing Corporations Ineffective
All Indian exchanges and the leading stock market, NSE, issued an official statement on Saturday morning. The statement said that on July 19, 2024, there was a global outage in Microsoft’s system. Reports of various sectors being affected by that outage worldwide were circulating. All exchanges and clearing corporations in India worked without any impact.
Impact On Select Trading Partners
However, the joint statement said that the work of some trading members was partially affected. According to the statement, in the ecosystem of more than 14 hundred trading members, only 11 reported an impact on work, which was either rectified yesterday or is being rectified. Overall, the exchange or clearing corporation in the Indian securities market faced no major problems in trading or clearing-related activities.
Yesterday, Spokespersons Gave This Information
Earlier, the spokespersons of the major stock markets, NSE and BSE, told on Friday that their work was unaffected by the Microsoft outage. The BSE spokesperson said there was no problem trading on their platform. The work of BSE continued as usual throughout the day. The NSE spokesperson said the same thing: that NSE and NCL worked like normal days today (Friday).
London Stock Exchange Hit
This is important because the business world felt a big impact on Friday due to the outage in Microsoft’s system. Many companies’ work, including some major global stock markets, came to a complete standstill. The London Stock Exchange, counted among the world’s largest and most prominent markets, was also affected yesterday. This affected services related to the London Stock Exchange’s Workspace News and Data Platform.
Impact On These Trading Companies In India
In India, the selected trading partners whose work is said to be affected include Angel One, 5Paisa, IIFL Securities, Nuwama, Motilal Oswal, etc. Although no one has been named in the joint statement issued by NSE, Angel One, 5Paisa, IIFL Securities, Nuwama, Motilal Oswal, etc., themselves had informed about the impact on work on Friday.
