Stock market timings news: Extension soon? What brokers are saying | ET NOW EXCLUSIVE
Stock market timings news: Industry bodies ANMI (Association of National Exchanges Members of India) and CPAI, (Commodity Participants Association of India) have agreed on extending the market’s trade hours.
Any extension in trading hours needs the approval of SEBI and Brokers forum
(Pic: Shutterstock/ET NOW News)
Stock market timings news: A proposal to extend the stock market trading hours has been in the news. Last year in the month of September, news reports suggested that the National Stock Exchange (NSE) is planning an evening session, possibly between 6 pm and 9 pm.
Industry bodies ANMI (Association of National Exchanges Members of India) and CPAI, (Commodity Participants Association of India) have agreed on extending the market’s trade hours. Brokers however are yet to find consensus for extending market trade hours, according to an ET NOW report by Ankur Mishra which cited sources privy to the matter. The change in the trade hours is yet to be approved by the BSE broker forum.
The sources have also mentioned that while big brokers are in favour of extension, many small brokers are opposed to it. The BSE broker forum is set to discuss the matter this week in a board meeting. The Industry Standards Forum (ISF) which includes industry bodies such as the BBF(Bombay Stock Exchange Brokers’ Forum), ANMI CPAI have to submit views to SEBI by month end.
The National Stock Exchange has proposed the idea of extending trade hours in the Futures & Options category. Any extension in trading hours needs the approval of SEBI and Brokers forum.
Earlier on February 20, in an exclusive conversation with ET NOW, the NSE MD and CEO, Ashish Chauhan added that the NSE is not in a hurry.
As and when people feel comfortable in the stock markets, NSE will implement extended hours, Chauhan stated, adding, “We are not in a hurry.”
“In a way, all brokers have to agree, SEBI has to agree. So, whenever they tell, we will do it,” Chauhan told ET NOW.
The NSE, CEO also mentioned the example of GIFT city’s trading hours and the commodity exchange which works till 11:30 PM.
“Otherwise, in GIFT City we have 22 hours exchange working which works on our own technology. In India jurisdiction, we have commodity exchange which is working till 11:30 pm. So, we have some examples and other things,” Chauhan added.
The CEO also suggested that the first phase of extending hours will naturally be Futures and Options “because that’s what the rest of the world does.”
