Sebi
Sebi rejects NSE's market trading hour extension proposal citing lack of consensus
Mumbai/IBNS: The Securities and Exchange Board of India (Sebi) has rejected the proposal of the National Stock Exchange (NSE) to extend the trading hours due to a lack of consensus among stockbrokers, reports said.
Presently, both NSE and BSE (formerly Bombay Stock Exchange) opens at 9:15 am and closes at 3:30 pm.
According to reports, the NSE had sent a proposal to the Sebi asking the regulatory body for securities and commodity markets in the country to add an evening session from 6 pm to 9 pm specially for index futures and options (F&O) contracts, aiming to align Indian markets with global opening hours and allow participants to react to international events.
After the proposal was made, some brokers raised concerns regarding work-life balance and operational challenges, and traditional brokerages expressed disquiet about the impact on manpower requirements.
However, Sebi has rejected the NSE's proposal for now, citing lack of consensus.
Confirming the matter, NSE MD and CEO Ashishkumar Chauhan said, "As of now, the Securities and Exchange Board of India (Sebi) has shelved the exchange’s proposal to extend the timeframe for trading."
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
