Mumbai: The Indian stock markets will continue to operate between 9.15 am and 3.30 pm and there are no plans to extend the trading hours currently, said Bombay Stock Exchange MD and CEO Ashishkumar Chauhan, reports The Hindu Businessline.
According to the report, Chauhan said that there was no proposal pending with the exchange or any of its sub-committees on the issue. He termed it as an “emotional one built up by media frenzy”.
He, however, said that there were no technical problems in increasing trading hours as trading extension was done in the case of its subsidiary — India INX in GIFT city, Gandhinagar.
There were reports doing the rounds that both BSE and NSE were considering extension of daily trading hours beyond 3.30 pm.
The exchanges were said to be exploring extension of the trading hours till 5:30 pm or even 7:30 pm. Even market regulator Securities and Exchange Board is said to be “in principal” on board with the plan.
In 2009, Sebi had allowed exchanges to extend trading hours till 5pm.
On December 16, 2009, the BSE had made the first move, saying that it would open for trading at 9.45 am. A day later, NSE said it would commence trading 55 minutes early. Finally, while both exchanges decided to open trading at 9 am, they stayed away from extending the trading hours beyond 3.30 pm due to resistance from the brokers because of cost implications.
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