On Monday, as domestic indices Sensex and Nifty reached new record levels and exit polls predicted a win for the BJP-led NDA, discount broking app Zerodha faced a technical issue with its website, making it inaccessible to traders. Frustrated traders took to social media to express their frustration as the market surged, hitting a record peak of 76,738.89 for Sensex and 23,338.70 for Nifty. Zerodha advised users to do a hard refresh and seek alternate solutions to access the app.
Zerodha: Technical Glitch Marred Record-Breaking Market Day
On Monday, March 7, 2023, Indian stock markets experienced a record-breaking surge, with the Sensex and Nifty hitting new highs. However, this historic moment was marred by a technical issue that plagued popular discount broking app Zerodha.
Background
Zerodha is India's largest discount broker, known for its low brokerage fees and ease of use. It has amassed a loyal customer base of over 10 million traders.
The Glitch
At the height of the market rally, Zerodha users reported widespread inaccessibility to the platform's website. This prevented traders from placing orders, monitor their portfolios, and take advantage of the market uptrend.
Frustrated Traders
The timing of the glitch, coinciding with the market's surge, left many traders frustrated and helpless. Social media platforms were flooded with complaints and expressions of anger as the Sensex and Nifty reached record peaks.
Zerodha's Response
Zerodha acknowledged the issue and advised users to perform a hard refresh to resolve it. However, many users reported that this did not address the problem. The company also suggested alternative solutions, such as using the Kite mobile app or the web browser extension.
Impact
While the glitch did not appear to have a significant impact on the overall market performance, it undoubtedly spoiled the experience for many Zerodha users. The inability to access the platform during such a critical moment frustrated traders and raised concerns about the reliability of the app.
Top 5 FAQs
1. What caused the Zerodha glitch? The exact cause of the glitch is unknown, but it may have been related to the surge in traffic as traders rushed to place orders during the market rally.
2. How long did the glitch last? The glitch persisted for several hours but was eventually resolved later that day.
3. Did the glitch affect all Zerodha users? The glitch appeared to affect a significant number of Zerodha users, but not all.
4. What are the alternative solutions Zerodha suggested? Zerodha suggested users to perform a hard refresh, use the Kite mobile app, or the web browser extension.
5. Has Zerodha experienced similar glitches in the past? Zerodha has experienced occasional technical issues in the past, but not to the extent of the recent glitch during the market rally.
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