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    NSE Chief favours longer trading hours

    Synopsis

    Speaking at the pre-budget roundtable meeting organised by three Indian markets industry associations - Association of National Exchanges Members of India (ANMI), Bombay Stock Exchange Brokers' Forum, and the Commodity Participants Association of India, Chauhan urged the trade bodies to back a proposal for longer trading hours.

    Ashish ChauhanETtech
    Currently, commodity markets trade for 15 hours from 9 AM to 11:55 PM. Equity stock exchanges permit trading from 9:15 AM to 3:30 PM.
    Mumbai: National Stock Exchange chief executive officer Ashish Chauhan is batting for longer trading hours in stocks.

    Speaking at the pre-budget roundtable meeting organised by three Indian markets industry associations - Association of National Exchanges Members of India (ANMI), Bombay Stock Exchange Brokers' Forum, and the Commodity Participants Association of India, Chauhan urged the trade bodies to back a proposal for longer trading hours.

    "If Singapore and America can work for 16-18 hours, India, as a developing market, working for 6 hours and 15 minutes is not a great idea. We continuously resisted longer hours, and countries like Singapore prospered using our prices to trade," he said.

    Chauhan said longer hours would provide mutual funds, banks, and insurance companies with large equity holdings to participate in hedging and providing liquidity.

    Currently, commodity markets trade for 15 hours from 9 AM to 11:55 PM. Equity stock exchanges permit trading from 9:15 AM to 3:30 PM.

    In October 2018, the Securities and Exchange Board of India (Sebi) permitted stock exchanges to extend trading hours for equity derivatives between 9 AM and 11.55 PM, similar to the trading hours for the commodity derivatives segment.




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    (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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