Capital markets regulator Sebi has rejected a proposal by the National Stock Exchange (NSE) to extend the trading hours in the equity derivatives segment citing a lack of feedback from the stock brokers community. "Currently, there is no plan to extend the timings as Sebi has returned our application as the stock brokers have not given the feedback that Sebi wanted. So, as of now, the extended time frame (plan) is shelved," NSE MD and CEO Ashishkumar Chauhan said in a post-earnings analysts call. This came after the NSE had urged Sebi to extend trading hours in the equity derivatives segment in a phased manner. This was aimed at potentially curtailing the overnight risk arising from global information flow. Sriram Krishnan, Chief Business Development Officer of NSE, had told PTI in September that the bourse was planning a session from 6 pm to 9 pm after a break from the closure of the regular session from 9.15 am to 3.30 pm. Based on the response, a gradual extension of the market .
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Bourse was eyeing a March rollout
If the Nifty Bank index stays below 2,600 level for another week, then a major breakdown may lead to a long term bearishness, tech charts suggest.
Both NSE and BSE plan to give their plan on extension of trading hours in the next few weeks
The trading on the exchange take place between 9 am and 3.30 pm with 15 minutes each of pre-open and post-closing sessions