In a move to ensure the stability and efficiency of equity trading systems, the National Stock Exchange (NSE) Nifty 50 and the S&P BSE Sensex experienced a surge in a special trading session held on Saturday. This session was organized by the stock exchanges to evaluate the effectiveness of failsafe mechanisms for trading. The indices reached new record highs, boosted by strong performances in metal stocks.
The special trading session occurred in two parts: from 9:15 am to 10:00 am at the primary site, and then from 11:30 am to 12:30 pm at a designated disaster recovery site. The goal of this initiative was to assess how well the exchange systems respond to unforeseen disruptions, ensuring a smooth transition to the backup site if needed.
This evaluation follows a significant trading outage in February 2021 due to a telecom glitch, during which the exchanges failed to migrate to the disaster recovery site as intended. This incident prompted regulatory scrutiny from the Securities and Exchange Board of India (Sebi), leading to a reassessment of the exchanges’ systems and protocols.
The NSE Nifty 50 closed the session with a gain of 0.18 percent at 22,378.40, while the S&P BSE Sensex rose by 0.08 percent to 73,806.15, marking consecutive days of reaching new record highs.
Abhijit Bhave, CEO and managing director of Equirus Wealth, commented on the market’s performance, stating that strong economic fundamentals and steady earnings growth suggest that the momentum in domestic equities remains strong and could continue further.
Bharat’s economy showed robust growth, expanding at a faster-than-expected rate of 8.4 percent in the October-December quarter, according to data released after market hours on Thursday. During Saturday’s session, twelve of the thirteen major sectors witnessed advances, indicating broad-based growth across the market.
In contrast to recent trends, small-cap and mid-cap indices outperformed blue-chip stocks during the session, registering gains of 0.69 percent and 0.74 percent, respectively. This reversal in performance comes after concerns about fund flows weighed on these segments in the past week.
Notable gains were observed in the Nifty Metal sector, which surged by 1.58 percent, with Tata Steel leading the pack with a gain of 3.60 percent, following substantial growth in block deals on Friday. Hero MotoCorp also saw a 1.57 percent increase after reporting an 18.75 percent year-on-year growth in total sales for February.
Tata Steel and Hero MotoCorp emerged as the top two gainers in the Nifty 50 index by percentage. Normal trading activities are expected to resume on Monday, with investors closely monitoring the market’s performance following the successful special trading session.
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