79% BSE brokers oppose extension of trading hours

A whopping 79 per cent of members of the Bombay Stock Exchange [ Images ] do not favour extension of trading hours from the present 9:55 am to 3:30 pm, a survey said.

The BSE Brokers Forum had conducted a survey seeking views of 418 trading members of the bourse on extended trading hours.

Key findings showed that over 79 per cent, or nearly four-fifths of the respondents, felt the current trading hours should not be changed.

Of the remaining 21 per cent, seven per cent felt market hours should be extended in the morning session only while five per cent felt trading time should be extended only in the evening session.

"Eight per cent felt that the markets should be extended in both the morning as well as the evening sessions," the exchange said in a release in Mumbai [ Images ].

"The survey indicates that the trading members are not welcome to the change in 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," BSE said.

Market regulator SEBI last month green signaled longer trading hours for stock exchanges, allowing the bourses to extend market hours (in the cash and derivative segment) by around two-and-a-half hours between 9 am and 5 pm.