The two largest exchanges in the country may not be extending their trading hours any time soon as brokers’ bodies are vehemently opposing the suggestion.A survey by the Bombay Stock Exchange Brokers Forum says that 79 per cent of the members of the forum are against the extension of trading hours on the exchanges. This survey comes after a study on the issue by the Association of National Exchange of India (ANMI), which showed that over 62 per cent of the 395 member-stock brokers who participated in the survey did not want market trading timings to be extended.
According to the BSE Brokers Forum, out of the 418 trading members who responded to the survey, more than 79 per cent of the respondents felt that the current timings should not be changed. Of the balance 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 also indicated that trading members do not see the change in the trading hours getting more volumes or early information on any trend of the US markets.
A section of the broking community feels that their cost of operations will increase and might not be compensated by an increase in trading volumes. Brokers are also apprehensive about extension of trading hours as the banking and ancilliary infrastructure for such trading is still not in place.