Sebi earlier in the year 2009 allowed extension of trading hours for the stock market till 5pm. This time again leading exchanges of the country are mulling over stock market trading hours extension by 2 or 4 hours as against the current practice when the trading session for the day ends at 3:30 pm.
In July, MSEI or Metropolitan Stock Exchange of India which is a smaller exchanged backed by Rakesh Jhunjhunwala and Radhakishan Damani also made a call to extend trading hours to 5 pm. But as larger exchanges including BSE and NSE ignored the step, MSCI later withdrew from extending trading hours.
As per a news channel report, the capital market regulator, SEBI is in-principle on board with the plan of extending trading hours. Brokers are apprehensive of the move as though the extension in trading hours is expected to increase trading volumes nonetheless it would mean higher overhead costs for brokers.
BSE and NSE both few years down the line had extended trading hours in the morning which then started the trading day at 9:15 and the pre-opening session starting at 9:00 am. This also saw opposition from most brokers as they were more comfortable with the current trading schedule.