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Ravi Ranjan Prasad

Mumbai, Dec. 23 Online traders are having difficulties in accessing their online trading site due to poor Internet connectivity. The link-up remains affected for over three days after three undersea fibre optic cables snapped during the week-end.

The overall volumes on the National Stock Exchange and the Bombay Stock Exchange were sharply lower on Monday and Tuesday compared with the last week’s volumes.

The number of trades on the NSE was just over 57.5 lakh in the cash segment on Tuesday as compared with 73.76 lakh on Friday.

On Monday, the number of trades had come down to just over 62.72 lakh.

The lower volumes were also attributed to the general absence of investors who were now packing for Christmas and New Year holidays.

On Tuesday, NSE recorded a turnover of just Rs 9,026 crore in the cash market as compared with Rs 13,245 crore on Friday.

Even on the BSE, the turnover in the cash market was down to Rs 3,378 crore as compared with the monthly average turnover of Rs 3,960 crore for December.

Some users found it difficult to access some of the online trading portals like ICICIDirect, with the site failing to open beyond the home-page.

However, the ICICIDirect officials denied any problem in accessing their Internet portal.

“There was some impact on online trading volume,” said Mr Vinay Agrawal, Executive Director, Equity Broking, Angel Broking.

“The Net connectivity across the seas is affected; now all servers are located in India, so the impact on trading portals is very low,” said Mr Agrawal.

Reliance Money which has on average 3.5 lakh trades daily, however, denied any drop in overall volume stating that it had 3.67 lakh trades on Tuesday.

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