MSEI postpones extension of trading hours
The Metropolitan Stock Exchange of India has postponed their plan to extend its trading hours to 5 pm. Earlier on Tuesday, the exchange had announced an extension of the closing time of trading hours on its equity capital market segment to 5 pm from the current 3.30 pm, with effect from Friday
Competitors and major exchanges, NSE and the BSE have not announced such change in timings. Though brokers expect that they would be compelled to follow suit after MSEI's move.
Earlier in 2009, Securities and Exchange Board of India (SEBI) had allowed exchanges to extend trading hours till 5 pm. On December 16, 2009, the BSE had made the first move, saying that it would open for trading at 9.45 am.
The very next day, NSE had stated that it would start trading 55 minutes early. Finally, both stock exchanges decided to open to stock exchange at 9 am. However, both the bourses decided not to extend the timing beyond 3.30 pm due to resistance from the brokers because of the cost implications.
Competitors and major exchanges, NSE and the BSE have not announced such change in timings. Though brokers expect that they would be compelled to follow suit after MSEI's move.
Earlier in 2009, Securities and Exchange Board of India (SEBI) had allowed exchanges to extend trading hours till 5 pm. On December 16, 2009, the BSE had made the first move, saying that it would open for trading at 9.45 am.
The very next day, NSE had stated that it would start trading 55 minutes early. Finally, both stock exchanges decided to open to stock exchange at 9 am. However, both the bourses decided not to extend the timing beyond 3.30 pm due to resistance from the brokers because of the cost implications.
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