Edelweiss Mutual Fund customers hit by Microsoft outage

Microsoft's global outage is taking a toll on mutual fund users in India as well with Edelweiss Mutual Fund saying it is facing login issues on its website.

"We are experiencing login issues on our website due to a Microsoft outage. Our team is actively working to resolve this as quickly as possible," Edelweiss said on social media.

Radhika, CEO, Edelweiss Mutual Fund also said, “If you are having an issue please write to @EdelweissMF and we will try to assist you over the phone. Apologies for this - truly a global outage this one is.”



The Dalal Street traders were among those hit by Microsoft's major service outage on Friday as technical glitches were reported at many brokerages.

Among the brokerages in India, Nuvama Wealth Management , Edelweiss Mutual Fund, Motilal Oswal, IIFL Securities, 5Paisa Capital and Angel Broking are facing technical difficulties, traders at the brokerages told Reuters.

Upset traders posted on social media platforms, seeking compensation from the brokers for the losses they have incurred saying they were not able to sell positions because the platform showed no pending orders.

While London Stock Exchange's Workspace news and data platform also suffered outage, Indian stock exchanges BSE and NSE were said to be unaffected.

Microsoft users worldwide, including banks and airlines, reported widespread outages after which the tech company said the issue is being mitigated.

LSEG Group's Workspace news and data platform suffered an outage on Friday that affected user access worldwide, causing disruption across financial markets, as reported by Reuters.

In a service announcement to clients, the company said it was experiencing a third-party global technical issue that was impacting some services, although securities trading on the London Stock Exchange was not affected.

The LSEG outage also meant that company updates were not being published to markets through its Regulatory News Service, while signs of disruption in one of the world's busiest financial centres emerged as London trade got underway, Reuters reported.

Indian stock market traders hit by Microsoft outage. Here is the view from Parth Nyati, Founder, Tradingo (Parth is an IIT Delhi Graduate and Tradingo is an online discount brokerage platform)

An Anti-virus Crowdstrike faced a technical glitch after an update that affected the Microsoft servers and PCs where this anti-virus was installed.

This anti-virus is also installed on Microsoft servers provided by Azure as a part of their cloud infrastructure. Azure accounts for 25% market share amongst cloud services. Hence a lot of large organisations, airlines, stock exchanges globally who use Azure had technical glitches. The Crowdstrike team is currently working to resolve the issue