Trading in BSE/NSE starts at 9 AM from 4th January
Like Pepsi and Coca Cola fight each other at every aspect, same we can see between NSE and BSE here. It all started in March this year, when the Securities and Exchange Board of India (SEBI) proposed an extension of trading hours of stock exchanges to align the domestic bourses with international markets. Sebi invited feedback from all concerned, and took a decision in October. Sebi permitted stock exchanges to begin the day as early as 9am and keep the market open for trading till 5pm. It left the final decision to the exchanges.
Soon after, a series of broker surveys were conducted to check if the system was indeed ready for longer hours.
A majority of stock brokers wanted the Bombay Stock Exchange to continue with the same market timing and see no volume benefit in extending market hours, a survey by the exchanges’ brokers forum showed.
- More than 79% of the 418 trading members surveyed felt the current 9:55 am to 3:30 pm trading timing should stay, the survey showed.
- The Association of National Exchange Members of India (ANMI) also conducted an online survey to gauge the opinion of the member brokers and investors at large. Over 800 brokers were surveyed of which 50% did not respond. 62% of those polled did not want trading hours to be extended.
However, earlier this week, BSE went ahead and advanced its opening timing by 10 minutes to 9.45 am with effect from Friday, 18th Dec. In response, the NSE advanced its opening to 9am after which BSE also followed suit.
- Is this a good move or not; (my view)
How does it matter if somebody sells a stock at 9 to at 10? What is important is if we do not have days like we had in early ‘90s where the exchange will be close on day and the rest of the world is trading. So what it does is it will make some people more alert and overall it will bring down the efficiency, it will lead to rigging because why will Indian LIC and GIC and insurance companies all land up in office at 9 am. So let’s say till one year by which then everybody adjust to the new time, you will have less players in that market and only those players who are trying to take advantage of every short move, every small move. The institutional guys are not going to land up at 8:30 am tomorrow morning and time for a 9 o’ clock opening. So I do not see how it makes more efficient in anyway, it doesn’t.
What do you think of this move, your view can make a difference for other readers.
Related posts:
- What are stock exchanges all about ?
- History of Indian Stock Exchange
- Major Stock Exchanges in world
- History of Stock exchanges
- Difference between NSE and BSE
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