NSE Trading Hours Not To Be Extended As Sebi Rejects Proposal: NSE CEO

NSE MD & CEO Ashishkumar Chauhan said that due to the lack of feedback which SEBI had sought from stock brokers, the proposal to extend trading hours was rejected.

New Delhi: National Stock Exchange (NSE) MD & CEO Ashishkumar Chauhan announced during an analyst call that market regulator Securities and Exchange Board of India (SEBI) has rejected the exchange's proposal to increase trading time.

Chauhan said that due to the lack of feedback which SEBI had sought from stock brokers, the proposal to extend trading hours was rejected.

News agency PTI had in September last year reported that NSE is looking to increase trading hours in the equity derivatives segment in a phased manner. Sriram Krishnan, Chief Business Development Officer of NSE, told PTI that the bourse was planning a session from 6 pm to 9 pm after a break from the closure of the regular session from 9.15 am to 3.30 pm.

"In India, the equity and equity derivatives market close at 3.30 pm when most of the European equity markets would have just opened for trading while the US equity markets would be closed," PTI had mentioned. ''

The news agency further wrote that Indian investors, particularly the small ones, do not have access to markets in global jurisdictions. Such investors are not able to act when information or events take place outside the regular trading hours, which affect the Indian asset prices, particularly equity indices.

The longer trading hours in the offshore markets provide an opportunity to incorporate such information when onshore markets are closed.