On July 19, 2024, a major global blackout affecting Microsoft systems caused widespread disruptions, impacting airlines, banks, and other sectors. Despite the extensive chaos, Indian stock markets demonstrated remarkable resilience, managing to navigate the situation with minimal disruption.
The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) issued a joint statement confirming that all trading and clearing operations in India proceeded smoothly despite the global outage. While 11 out of over 1,400 trading members experienced temporary issues, these were swiftly resolved, allowing trading and clearing activities to continue without major delays.
The outage, triggered by a malfunctioning CrowdStrike Hawk Sensor update, led to system crashes and the notorious Blue Screen of Death. Although the blackout significantly affected India’s aviation sector, resulting in numerous flight cancellations and delays, the country’s financial markets remained stable. The NSE and BSE statement assured that all exchanges and clearing entities operated without significant impact, and any minor issues faced by trading members were promptly addressed.
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