Global IT outage hits shares of stock broking firms
Microsoft users globally, several in India, have reported massive outages in services, with outage tracking website Downdetector showing users flagging disruptions across various services.
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Shares of stock broking firms, including Angel One and 5paisa Capital, declined on Friday as several traders faced operational disruptions in view of the global service outage of Microsoft systems.
The stock of Angel One went lower by 3.42 per cent, 5paisa Capital Ltd dropped 3.15 per cent, Nuvama Wealth Management fell 2.25 per cent, Motilal Oswal declined 2.19 per cent and IIFL Securities Ltd dipped 1.04 per cent on the BSE.
Microsoft users globally, several in India, have reported massive outages in services, with outage tracking website Downdetector showing users flagging disruptions across various services.
Several traders in India faced operational disruption as the global service outage affected many brokerages, including 5paisa, IIFL Securities, and Angel One.
Others impacted by the widespread global computer outage include Motilal Oswal and Edelweiss Mutual Fund. Some brokerages later said systems have been restored and are up and running.
The outage not just affected broking firms but also disrupted airlines' operations.
Shares of InterGlobe Aviation fell by 3.11 per cent.
However, stock exchanges and financial institutions, including banks, largely remained unaffected.
"Due to a global outage with Crowdstrike/Microsoft, offering a cyber security solution, our systems are affected," 5paisa announced on X (formerly Twitter).
Separately, Angel One said, "You may have experienced an intermittent issue due to a global outage faced by one of the solution providers." Further, Edelweiss Mutual Fund too revealed about login issues on its website, owing to the outage.
Despite the issue, the country's leading stock exchanges NSE and BSE said they were not impacted due to the global outage of Microsoft systems.
"The domestic market closed today with a downturn due to the global sell-off, triggered by operating system issues that caused devices to crash worldwide.
The global IT outrage has led to disruptions in various Indian industries," said Vinod Nair, Head of Research, Geojit Financial Services.
The 30-share BSE Sensex tanked 738.81 points or 0.91 per cent to settle at 80,604.65 after hitting a fresh all-time high of 81,587.76 in initial trade.
"In addition, Microsoft outage impacted lot of large organizations, airlines, stock exchanges globally," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, said.
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