The Securities and Exchange Board of India (SEBI) rejected the request of the National Stock Exchange (NSE) to increase the market hours for the derivatives segment.
Rejected request
The reason behind the rejection is “lack of consensus among the broker community”.
The reason
As mentioned by Ashishkumar Chauhan, NSE MD & CEO, to extend the market hours, stock brokers needed to give feedback to SEBI, which has not happened and thus the plea is rejected for now.
No response from brokers
The National Stock Exchange planned to increase the market trading hours for Futures & Options in a strategic and phased manner last year.
Strategic planning
As per that planning, apart from the regular market hours of 9:15 AM to 3:30 PM, the first phase of trading was from 6 PM to 9 PM in the evening. The second phase was to extend trading in index derivatives till 11:30 PM. Along with that, the third phase was to increase trading hours for the cash market till 5 PM.