The drama over extension of trading time on stock exchanges is far from over. Though the two leading exchanges fixed the market opening time at 9 am on Wednesday, market men on Thursday made their displeasure felt at the largest bourses of the country leading them to postpone their decision to extend market timings.
“Based on the market feedback, it has been jointly decided by the Bombay Stock Exchange (BSE) 
and the National Stock Exchange (NSE) that the revision of market open timing to 9 am shall be effective from January 4, 2010. In the interim, the current market open timing of 9:55 am shall continue,” BSE said in a statement. “Trading will start in equity segment at 9 am with effect from January 4, 2010, Monday,” an NSE official said on Thursday.
The two exchanges had on Wednesday said that the market would open at 9 am effective December 18, an advancement of nearly an hour from the current practice of market opening at 9:55 am. The extension war started on Tuesday when the BSE said trading would start at 9.45 am daily.
Worried over losing business, the NSE responded the next day and fixed the opening time at 9 am. The BSE reacted immediately and aligned with the NSE’s time. In October, market regulator SEBI allowed stock exchanges to fix trading timings between 9 am and 5 pm.
Brokers and traders are now caught in the middle of the war. “Advancement of market opening seems like a good step, but the basic problem is banking and other infrastructures are not able to cope with the changes in capital market, said Bonanza Portfolio senior VP Rakesh Goyal.
