SEBI latest update: Because the broking community cannot agree on anything, the market regulator, Securities and Exchange Board of India (SEBI), has rejected NSE’s proposal to extend market timings in the derivatives segment.

In order to assist market players in acting on global news flow in the evening, a staged strategy was proposed that would first gradually extend trading hours for the index F&O from 6 p.m. to 9 p.m.; in the second phase, trading might be prolonged until 11:30 p.m. Lastly, it was proposed to prolong the cash market trading hours till 5 p.m. during the third phase.

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What made SEBI make the decision

During an analyst call held after the NSE released its Q4 results, Ashishkumar Chauhan, MD & CEO of the NSE, stated that despite higher expenditures and technology needs, the broking community was unable to come to a consensus on extending trading hours. “As of now, the extended timeframe proposal is shelved,” he continued.

After giving it some thought, Ambit Investment Managers’ MD, Dhiraj Agarwal, stated that he would not favor an extension of trading hours. In an interview with CNBC-TV18, he stated, “It is already long enough and market participants are working quite hard.”

The plan was authorized earlier this year by the Association of National Exchanges Members of India (Anmi), a body that represents stock brokers.

NSE’s revenue increased by 34% YoY to Rs 4,625 crore in Q4FY24, while net profit increased by 55% YoY. In addition, the exchange announced a dividend of Rs 90 per share and will award four bonus shares for each share retained.

Read more: SEBI turns down NSE request