Stock Market trading time extension: What SEBI chief Madhabi Puri Buch said

Puri said this while responding to a question on whether SEBI supports the demand of several brokers to extend the trading time.

Extension of market trading hours figured during a pre-budget meeting which was attended by various brokers and representatives from exchanges

Securities Exchange Board of India (SEBI) chairman Madhabi Puri Buch has said that it is up to the exchanges whether they want to extend the trading time. Puri said this while responding to a question on whether SEBI supports the demand of several brokers to extend the trading time.

“There are no restrictions from our side. We have facilitated it. Exchanges can take their view” Madhabi Puri said on Tuesday.

The matter had figured during a pre-budget meeting which was attended by various brokers and representatives from exchanges earlier.

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Extension of market trading hours figured during a pre-budget meeting which was attended by various brokers and representatives from exchanges.

In a morning show aired on Zee Business channel, Market Guru and Managing Editor Anil Singhvi said that many brokers are in favour of extension of timings. This, he said, is because they want to increase their trading activities which will benefit their businesses.

Singhvi suggested that if the index trading time is extended till 8 pm, then the Indian market will be synced with European and US markets.

Meanwhile, SEBI during its Tuesday meeting also decided to amend buyback norms. The market regulator said that it has decided to gradually phase out the buyback of shares by companies through the stock exchange route. It also approved steps to boost governance at stock exchanges and other market infrastructure institutions (MIIs).

Besides, SEBI board also decided to reduce the time taken for registration of Foreign Portfolio Investors to facilitate ease of doing business. Norms will also be amended to facilitate sustainable finance in the country and curb 'greenwashing'.

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