Stock Exchanges will stick to 9 am start for trade
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Domestic stock exchanges will stick to their decision to start trading 55 minutes earlier than the current opening time from January 4,
as leading broker associations continue to protest.
Officials at the stock exchanges reiterated that the exchange would open at 9:00 a.m. from Monday, after the Association of National Exchanges Members of India (ANMI) on Wednesday made some last ditch attempts to defer the step to extend trading hours.
ANMI cited lack of better banking channels, undue stress on manpower and higher transaction costs as reasons for its demand to defer the decision.
“ANMI is of the view that it is necessary to maintain status quo on the timings till the adequate infrastructure is in place,” a press release said. “There should not be any hurry in extending market timings, as putting load on the system with a weak infrastructure will not be in the interests of any parties concerned and investors may lose out in the short run,” it said, adding extended trading hours seem inevitable in the long run.
