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."
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Trump, Netanyahu unveil 20-point Gaza peace plan, warn Hamas to accept deal or face 'full destruction'
Drugs valued at 60 crore seized in Tripura
Tamil Nadu stampede: TVK leader arrested, actor-politician Vijay named in FIR
Despite rising power demand in Durga Puja, Tripura continues electricity supply to B'desh: Minister
