Global Microsoft Outage Causes Market Turbulence for Indian Broking Firms

Shares of Indian stock broking firms like Angel One and 5paisa Capital fell due to a global Microsoft systems outage. The issue disrupted services for traders and brokerages, and also affected airlines. Some firms later restored their systems. Despite the disruptions, major stock exchanges remained largely unaffected.

Shares of stock broking firms, including Angel One and 5paisa Capital, declined on Friday as several traders faced operational disruptions due to a global service outage affecting Microsoft systems.

The stock of Angel One fell by 3.42 percent, 5paisa Capital Ltd dropped 3.15 percent, Nuvama Wealth Management fell 2.25 percent, Motilal Oswal declined 2.19 percent, and IIFL Securities Ltd dipped 1.04 percent on the BSE.

Microsoft users globally, including many in India, reported massive service outages, with outage tracking website Downdetector showing widespread disruptions across various services.

Several traders in India experienced operational disruptions as the global service outage impacted brokerages like 5paisa, IIFL Securities, and Angel One.

Others impacted by the widespread global computer outage included Motilal Oswal and Edelweiss Mutual Fund. Some brokerages later announced that their systems have been restored and are operational.

The outage not only affected broking firms but also disrupted airline operations. Shares of InterGlobe Aviation fell by 3.11 percent.

However, stock exchanges and financial institutions, including banks, largely remained unaffected.

''Due to a global outage with Crowdstrike/Microsoft, offering a cybersecurity 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.'' Edelweiss Mutual Fund also reported login issues due to the outage.

Despite the issue, the country's leading stock exchanges NSE and BSE confirmed they were not impacted by 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 outage 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 percent to settle at 80,604.65 after hitting a fresh all-time high of 81,587.76 in initial trade.

''In addition, the Microsoft outage impacted a lot of large organizations, airlines, and stock exchanges globally,'' commented Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd.

(With inputs from agencies.)