Can't sell your stocks? Check Zerodha's advisory (CDSL issue blamed)
What's the story
A technical glitch at the Central Depository Services Limited (CDSL) has led to disruptions in stock sale authorizations across several brokerage platforms, including Zerodha and Groww. The issue stopped investors from authorizing the sale of their holdings. Addressing the disruption, Zerodha released a statement acknowledging the problem and assuring its customers that they were working closely with CDSL to fix it promptly.
Temporary fix
Zerodha's interim solution for investors
Zerodha also alerted its users about the CDSL issue and offered an interim solution. The brokerage firm said, "Due to an issue at CDSL across brokers, you may face an issue with authorizing the sale of your stocks." They further added that in the meantime, investors could go ahead and sell their holdings without needing CDSL authorization. This was to minimize disruption for investors amid this technical glitch.
Issue resolved
Zerodha confirms resolution of CDSL glitch
Just a while back, Zerodha confirmed that the CDSL TPIN authorization issue has been resolved. The firm said, "The CDSL TPIN authorization issue is resolved. You can authorize the sale of your holdings now." The update was shared to assure users that normal operations have resumed after the technical glitch at CDSL. The brokerage firm also thanked its users for their patience during the period.
Platform update
Groww confirms resolution of CDSL glitch
Groww, another platform impacted by the CDSL glitch, also confirmed its resolution. The company tweeted, "Due to an issue at CDSL across all brokers, you may have faced an issue with authorizing the sale of your stocks." They further added the problem was fixed and users could place fresh sell orders now. This announcement was to reassure Groww users that normal trading operations had been restored.
Market reaction
CDSL glitch impacts share prices
Notably, the technical glitch at CDSL affected the market visibly. Following the development, CDSL shares were trading over 1% lower at ₹1,939 on the NSE at around 12:10pm today. The stock had hit a 52-week high of ₹1,989.80 in the last trading session. This shows that the technical issue had a temporary impact on investor confidence in CDSL's operations and performance.