Thursday, December 17, 2009

Trading on BSE, NSE to start at 9 am from Friday

Rivalry between the two leading bourses came to a head on Wednesday with both the Bombay Stock Exchange [ Images ] and National Stock Exchange, announcing that they would start trading from 9 a.m. from Friday. The announcement from the BSE to extend its trading time came closely after the NSE announced it would commence trading from 9 a.m.
Now BSE has also advanced trading in block deal window to 9 a.m.
"We have decided to advance the timing to 9 a.m. from Friday," a BSE spokesperson told PTI.
Asia's oldest bourse, Bombay Stock Exchange extended its trading time by 10 minutes on Tuesday, which it said would enable it to enhance its trading volumes and business.
NSE reacted to this move on Wednesday by advancing its trading start to 9 a.m. effective from Friday.
"NSE is advancing the trading time to 9 am effective from Friday," an NSE spokesperson said.
"With the change in other exchange's (BSE) timing, our market participants were concerned...there was a small sense of inevitability," NSE Managing Director & CEO, Ravi Narain told a TV channel.
With this, trading on both the bourses stocks will be conducted from 9 a.m. to 3.30 p.m. Both the bourses expect this move to help them ramp-up their volumes.
In October, market regulator Securities and Exchange Board of India [ Images ] (SEBI) approved the extension of the trading timings by up to two-and-a-half hours from 9 a.m. to 5 p.m.
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