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Stock exchanges suggest extending trading hours till 7.30 PM
Posted on: 02/Sep/2017 4:50:01 PM
An information has been gathered that the possibility of extending the trade closure time being extended up to 7.30 PM is being strongly explored by the Indian Stock Market.
Mumbai Stock exchange and the National Stock Exchange are the 2 leading stock trade markets in India. Apart from these 2, there are smaller-scale stock exchange/trade market functioning in other cities such as Kochi, Kolkata, etc. In the present routine, until the year 2009, the trading was being done from 8.45 AM to 4.00 PM.
Now, the Indian Stock Markets are earnestly exploring the possibility of increasing the trading time in order to facilitate decision making on investment as per the trend in European Stock Markets – to extend the Indian trading time closure till 5.00 PM or 7.30 PM.
A stock broker explained regarding this aspect that the discussion for extending the trade closing time was conducted a few years ago. However, the share trading agencies objected very strongly to this proposal.
However, the stock markets are now quite eager to extend the trade closing time. If this is implemented, the personnel working in stock trading agencies may need to work for 10 hours every day, probably in 2 shifts. Further, in order to carry out the instructions given by the investors, 2 additional consultants are required to be appointed for the morning and evening trading sessions.
Having 2 consultants in 2 sessions may lead to another issue – an investor who has given instructions in the morning session, in case he/she wants to change as per the trend till that evening, may need to talk to a new consultant on evening duty not being aware of the morning session happenings. So, this may result in failure to give proper consultancy to the investors.
However, the stock markets repudiated this problem explain that with the latest technology, it is easily possible to give the best possible consultancy all the time. Still, the extension time can be implemented only after approval from SEBI.
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