Brokerage firm Zerodha on Monday apologized for the inconvenience to its users due to a technical glitch because of which investors faced login issues on the platform. Zerodha explained that the issue erupted because recently the company updated its IP database, which changed the recorded locations of many users.
“Here’s a preliminary update on today’s issue with login. This was due to a recent update to our IP database over the weekend, which resulted in changes to the recorded locations of many users. This update triggered emails to users that they were logging in from a new location/IP which may have prompted a lot of users to reset their passwords all at once putting a strain on our login systems. We’ve put in measures to prevent similar issues. Please create a ticket if you were affected by today’s issue, and our team will reach out to you. We sincerely apologize for the inconvenience caused,” Zerodha said in a post on X.
Stock market surges to record levels
Earlier in the day, many users reported issues while logging through the Zerodha platform. The technical glitch occurred on the day when Indian stock markets rallied to record levels on the backs of optimistic results for the BJP in three assembly elections. The stock market indices of India- Nifty 50 and Sensex were at all-time high levels.
During the first session, Nifty 50 rallied to a fresh record high of 20,702.65 while Sensex hovered at peak 68,918.22. Both indices grew in the range of 2.07% and 2.05% with Nifty 50 closing 419 points up at 20,686.80 and Sensex closing 1,384 points up at 68,865.12.
Amid some strong movements in the stock market, Zerodha users were left stranded, unable to log into the Kite web. As the users shared their grievances on social media platforms, Zerodha responded to the queries and said “Some of our users are facing issues with logging into Kite web. We are looking into the issue. In the meantime, please log into the Kite mobile app.”
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Updated: 04 Dec 2023, 10:27 PM IST