Exchanges strike opening bell at 9 am

Exchanges strike opening bell at 9 am

 A general view of the Mumbai Stock Exchange (BSE) building in Mumbai on Monday. AP Photo

On the first day of trading in the new year, the Bombay Stock Exchange benchmark Sensex opened up by nine points at 17,473.45 points. The National Stock Exchange's Nifty opened higher at 5,200.90.

Trading has been the same on the bourses with the brokers queuing before the terminals sharp at 0900 hrs. However there has been no significant surge in trading volume, Bonanza Portfolio Assistant Vice President Avinash Gupta said.

With a view to better align the domestic markets with the Asian bourses, BSE and NSE had late last month announced the advancing the trading timing to 0900 hrs with effect today. The closing bell remains the same at 3.30 pm.

A host of brokers had opposed the move of extension of trade timing saying that the extended trading hours would face several infrastructure bottlenecks.

However, exchanges are of the opinion that the extension would help in reducing volatility and help catch up with trading in Hong Kong and Singapore markets.

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