June 13, 2024
Stock Market

Stock market trades: Investors unable to sell shares as CDSL services not working

The Indian stock market investors on Tuesday complained on social media platform X that Central Depository Services India (CDSL) was down and they were unable to sell the stocks.

Many traders faced problems during verifying sell order with TPIN.

Brokerage firms Upstox and Zerodha replied their users that the issue was at the CDSL’s end with respect to TPIN verification failure.

“CDSL down across all Demat accounts. This is a serious issue and concerned authorities should look into it. Even few minutes of issue can lead to huge losses of common man. Who should be held responsible?,” wrote one X user.

However, Upstox clarified that the issue services of CDSL were down.

“CDSL TPIN services might be down due to which you will not be able to generate a new TPIN for authorising sell orders,” it said.

CDSL had introduced electronic delivery instruction slip (e-DIS) verification for investor protection. A trader has to authenticate the transaction with TPIN and OTP at the time of sale of stocks.

Stock market traders received a notification from their brokers saying, “You may face an intermittent issue with TPIN authorization when selling your stocks due to an issue with CDSL across all brokers. Please try again after some time. We are in touch with CDSL to resolve the issue as soon as possible.”

In a series of tweets, Upstox explained that the CDSL TPIN services might be down due to which investors will not be able to generate a new TPIN for authorising sell orders.

“We’re working with CDSL to resolve this. If you’re aware of your TPIN you can continue to place sell orders without any interruptions. Alternatively, you can activate DDPI to place sell orders without authorisation,” Upstox said.

At 11:15, CDSL shares were trading 0.43% higher at 2,123.15 apiece on NSE.

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