BSE Star Plus Platform fails to place investors orders due to a glitch
On Monday, several mutual fund orders failed to owe a defect on the BSE Star Plus platform which has been launched for offering superior services along with end-to-end value-based services. As of the reports, those orders received from Groww and Kuvera and mutual fund distributors.
According to the BSE reports, on average, MFs made nearly 4.75 lakhs of transactions through the Star plus platform.
Further, during the trading period, the share market has been collapsed by nearly 3.50%. However, the situation creates awareness in the investors to invest in the market.
Today would be the largest transaction day in terms of orders within a single business day, said a market expert.
However, the majority of client orders could not be placed in time due to the unexpected setback in the market. It confirmed that several clients have been unable to take advantage of the market crash. Generally, when the market has collapsed that is the best chance to enter into the market. But, this time it fails to fit the investors due to the failure.
According to the market resource, the outage occurred around 1 PM to 3 PM.
Further, a few members made a complaint about the delay of the MF star platform performance. However, the Platform has more than 68,000 direct members. In which, majority of members able to perform their duties normally throughout the day. Besides, star plus received nearly 17.83 lakhs plus orders in a single day. In which, AMCs and RTAs made the highest orders.