The National Stock Exchange (NSE) on Wednesday evening announced it would pre-pone the market opening to 9am from Friday, from 9.52 earlier. Market closing, however, would remain the same — 3.30pm — the NSE said.
The move came a day after its rival, the Bombay Stock Exchange (BSE), said it would advance the opening bell by seven minutes to 9.45am.
Minutes after the NSE announcement, the BSE — not to be left behind — too said it would open the markets at 9am.
The Securities and Exchange Board of India (SEBI) in October allowed stock exchanges in India to extend their trading hours to a maximum possible window of trading between 9am and 5pm.
The SEBI move was prompted by a long-standing demand by the stock exchanges for allowing extension of trading hours to capture more trading from international investors, especially from Asian countries like Singapore where exchanges open earlier, Indian time.
However, soon after the regulator gave exchanges the go-ahead, opinion in the stock market fraternity was vertically divided with several brokers and brokerages saying lack of infrastructure could prove a hindrance to extend market hours to the full window of 9am to 5pm.
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