Zerodha Hit By Tech Glitch As Markets Touch All-Time High: What's the Issue, What the Brokerage Says

Zerodha Technical Glitch And User Reactions: At a time when the markets are skyrocketing to new highs, surging as high as 2,100, the discount broking app Zerodha experienced a technical issue affecting traders on Monday. Its website, kite.zerodha.com, was not accessible. The company on Monday said the glitch was due to the issue with Central Depository Services Ltd (CDSL).

Domestic indices Sensex and Nifty hit fresh all-time high levels on Monday after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha elections. The 30-share BSE Sensex jumped 2,777.58 points, or 3.75 percent, to reach a record peak of 76,738.89 in early trade. The NSE Nifty rallied 808 points, or 3.58 percent, to hit a fresh all-time high of 23,338.70.

The Zerodha website displayed the error message ‘503 Service Unavailable. No server is available to handle the request.’

“This was due to an issue with CDSL across brokers. This is now resolved and you can authorize your holdings using CDSL TPIN and OTP,” Zerodha said in a post on X.

Frustrated by the website crash, a trader said on X, “When the market is at an all-time high, Zerodha is dead.”

Replying to one such concern from a trader, Zerodha on X said, “Please do a hard refresh by pressing Ctrl + Shift + R, and check. If the issue persists, you can use the Kite app. Alternatively, you can try using an alternate internet connection. We’ve also provided an alternate solution here: https://support.zerodha.com/category/trading-and-markets/kite-web-and-mobile/others/articles/isp-kite-access.”

Another trader wrote on X, “Zerodha holding the market by not allowing its users to book profit!”

Another user commented, “As #zerodha is not responding since morning. This has happened many times in the last 2 months. I recommend you shift your demat account to a platform that provides low brokerage and a glitch-free trading experience.”

One more trader said, “@zerodhaonline Shall we throw our money into garbage instead of trading through your platform?”

To this, Zerodha replied, “Could you please try refreshing the page and checking again?”

Markets are rising on Monday after exit polls on Saturday predicted a substantial majority for PM Narendra Modi. Exit polls indicated that Prime Minister Narendra Modi would retain power for a third consecutive term, with the BJP-led NDA expected to secure a significant majority in the Lok Sabha elections. The counting of votes will take place on June 4.

All the 30-Sensex companies were trading in the green. Power Grid, NTPC, Larsen & Toubro, State Bank of India, Axis Bank, IndusInd Bank, ICICI Bank, and Mahindra & Mahindra were among the biggest gainers.