Leading bourses BSE and NSE hailed Sebi's decision to extend trading hours for equity derivatives contracts till 11:55 pm from October 1, terming it as the logical step towards a universal exchange model and bringing parity between equity and commodities trading.
Currently, trading in equities, both derivatives and cash, is allowed from 9:15 am to 3:30 pm, while international investors get to trade up to 11:55 pm in equity derivatives.
On the other hand, commodities derivatives are traded till 11:55 pm now by both domestic and international investors.
Welcoming the Sebi move, BSE chief Ashishkumar Chauhan said, "Introduction of the extended trading hours is a positive development and will bring domestic market in line with international markets and domestic commodity derivative markets."
He noted that globally, the derivative exchanges are already following the extended trading hours.
Echoing similar views, Vikram Limaye, the managing director of NSE, which dominates the derivatives market volumes, said the move is good for the markets in general and for the domestic investors in particular, who substantially control the volume.
"Since commodities space is already trading into midnight, this is another step towards the universal exchange model. In short, the Sebi move is a logical step towards this," he told
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)