Zerodha faces 2-minute order placement issues on crucial day

Discount brokerage firm Zerodha faced some technical glitch in the first two minutes on its Kite platform on Wednesday when market participants were expecting a gap-up opening.

As a result, many people took to Twitter to express their anger towards the country’s largest online broking firm.

BSE Sensex opened 1,470 points higher on Wednesday after the Prime Minister Narendra Modi on Tuesday night announced a Rs 20 lakh crore stimulus package to boost the ailing economy.


"We faced issues for two minutes right from the beginning. One of our lease lines got disconnected. A small percentage of our customer faced the issue and their order placement took time," Nithin Kamath, Co-founder, Zerodha told ETMarkets.com.

Kamath said Wednesday was also the largest trading day for them in terms of volume. "Therefore, I can say there was no major crash," he said.

The company had a base of over 14 lakh active clients as of April 30, NSE data showed.

One customer on Twitter said he faced losses due to the technical glitch.

Another customer also claimed to have suffered a loss:

Zerodha had faced technical issues in the past also. Very recently, some customers faced login problems on April 13, 2020.