Stock trading till 7.30 pm? Bourses mull, SEBI on board
What's the story
According to reports, Indian bourses are mulling on extending the stock trading hours by 2-4 hours.
Market regulator SEBI has okayed the idea and if everything goes right, the trading hours will be extended till 5.30 pm or 7.30 pm.
SEBI, back in 2009, had already agreed to let the bourses extend their trading hours till 5 pm.
Here's more about it.
Challenges
It will not be easy
The domestic brokerage industry is, however, not okay with the plan, as extending trading hours would also balloon up their overhead costs.
This could be devastating for an industry, where the margins are already wafer thin due to tough competition.
Brokerages are currently in a bad shape and are struggling to bolster their trading volumes and customer base.
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What does BSE have to say?
"Any decision has to be taken with a cost benefit analysis. At present, we are unable to see any significant benefit of longer trading hours. However, it is regulatory prerogative to decide on the length of market hours." said Kamlesh Shroff, spokesperson for BSE Brokers.