BSE brokers bolt from longer hours
25 Nov 2009
The BSE brokers' forum conducted a survey on the extended trading hours to seek views of the trading members of the Bombay Stock Exchange.
Findings showed that more than 79 per cent of the 418 respondents felt that the current timings should not be changed.
Of the remaining 21 per cent, 7 per cent felt that the markets should be extended in the morning session only; 5 per cent felt that the market should be extended in the evening session only; and 8 per cent felt that the markets should be extended in both the morning as well as the evening sessions.
The survey indicates that the trading members are not welcoming the change in the trading hours, and see no benefit to the Indian capital markets in terms of getting volumes of the Asian or US markets.
The BSE is hoping to increase volumes by extending trade timings; but brokers have expressed reservations from the start, saying India has a long way to go before longer trading hours will create any benefit. (See: SEBI proposes extension of trading hours at bourses)