Technical Issue on HDFC Securities App Causes NAV Display Errors

Customers of HDFC Securities encountered a display malfunction on the firm’s app on Wednesday, August 20, when the Net Asset Value of several mutual fund holdings was shown incorrectly. The error led to portfolio valuations dropping dramatically, with some investors reporting a 70 percent reduction in overall value. A user posted on social media that the NAV of a Nippon Multi Cap fund fell by 71 percent, while another user highlighted a sudden dip in the Nippon India Small Cap Growth fund from around 185 to 111.1869, pushing his return to roughly negative thirty percent. HDFC Securities has placed a notice in the app indicating that the NAV issue is being addressed, but no official clarification has been released.