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Sebi rejects NSE's market trading hour extension proposal citing lack of consensus
Image Credit: File image by Jimmy Vikas via Wikimedia Commons

Sebi rejects NSE's market trading hour extension proposal citing lack of consensus

| @indiablooms | 07 May 2024, 01:39 pm

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."

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