Market regulator rejects NSE’s proposal to extend trading hours

New Delhi, May 7

Capital markets regulator Sebi has rejected a proposal by the National Stock Exchange (NSE) to extend the trading hours in the equity derivatives segment citing a lack of feedback from the stock brokers community.

“Currently, there is no plan to extend the timings as Sebi has returned our application as the stock brokers have not given the feedback that Sebi wanted. So, as of now, the extended time frame (plan) is shelved,” NSE MD and CEO Ashishkumar Chauhan said in a post-earnings analysts call.

This came after the NSE had urged Sebi to extend trading hours in the equity derivatives segment in a phased manner. This was aimed at potentially curtailing the overnight risk arising from global information flow.

Sriram Krishnan, Chief Business Development Officer of NSE, had said in September that the bourse was planning a session from 6 pm to 9 pm after a break from the closure of the regular session from 9.15 am to 3.30 pm. Based on the response, a gradual extension of the market timing till 11.55 pm was proposed on the lines of commodity derivatives. — PTI 

Special trading session on May 18

NSE has said it would conduct a special trading session in the equity and equity derivative segments on May 18 to check its preparedness to handle major disruption at the primary site. There will be two sessions — the first from 9.15 am to 10 am from the PR, and the second from 11.30 am to 12.30 pm from the DR site.

Bourses end lower

• Equity benchmark indices Sensex and Nifty declined on Tuesday amid concerns over valuation of equities. BSE Sensex went lower by 383.69 points to settle at 73,511.85. NSE Nifty declined 140.20 points to 22,302.50
• Power Grid, IndusInd Bank, Tata Motors, JSW Steel, NTPC, HCL Technologies, Tata Steel, ICICI Bank, Mahindra & Mahindra, Axis Bank, HDFC Bank and Reliance Industries were among the major laggards