Last time, the trade timings were changed in 2009 when opening time was changed from 9.45 am to 9 am. An advisory committee of market regulator Securities and Exchange Board of India (Sebi) may discuss a proposal for extending stock market trading hours on Monday, according to a report by ET Now.
The report said RBI is on board with the proposal to keep equity markets open till 5 pm. “RBI not keen on extension beyond 5:00 pm, as the currency market operates only till 5 pm,” ETNow report said.
Stock exchanges will soon hold discussions with stakeholders on trade timings.
At present, Indian stock market opens at 9 am and closes at 3.30 pm, but there is a view — including among the stock exchanges — that trading hours could be extended till up to 7.30 pm to better align domestic trading with global markets.
The 19-member committee is led by Jayanth R Varma, Professor, IIM Ahmedabad. The members of the committee include representatives of stock exchanges, depositories, brokerage firms, as also independent experts and officials from Sebi and the government.
Last time, the trade timings were changed in 2009 when opening time was changed from 9.45 am to 9 am.
Some brokers said they would have to call employees in two different shifts for a longer trading period of over 10 hours and all their clients would have to be assigned at least two relationship managers.
Metropolitan Stock Exchange of India (MSEI) had earlier announced the extension of trading hours in its equity segment from 9 am to 5 pm from July 7.
However, within a day it withdrew the circular.
The Securities and Exchange Board of India (Sebi), in October 2009, had permitted the stock exchanges to set the trading hours between 9 am to 5 pm.