BSE brokers say nay to more hours

BSE Brokers Forum conducted a survey on the extended trading hours to seek views of the trading members of the BSE.  As many as 418 members responded to the survey and the key findings showed that more than 79 per cent forming almost four fifths of the respondents felt that the current timings should not be changed.

Of the rest, seven per cent felt that the markets should be extended in the morning session only, while another five per cent felt that the market should be extended in the evening session only and eight per cent felt that the markets should be extended in both the morning as well as the evening sessions.  Needless to say the survey indicates that at least the trading members of BSE are not welcoming the change in the trading hours and see no benefit to the Indian Capital Markets in terms of getting volumes of the Asian Markets or getting a trend of the US Markets.

Sebi had mooted the idea with a broader purpose of aligning with international market in terms of timing.  At the same time, the idea was initially mooted by NSE at the instance of its trading members whose apprehension was that lot of market volumes from Indian markets are going to Singapore Nifty, which opens earlier, and it is presumed that with extended trading hours, domestic bourses will have more overlapping time with the Europe and Singapore markets which will also help make Indian volumes grow faster.