Money on the markets
A maturing market amid the mayhem
Market participants will soon have to reschedule their morning routine as Indian bourses — the BSE and NSE — are set to extend their daily trading time by 55 minutes from January 4, 2010.
The markets will now open at 9 am and close at their normal closing time of 3:30 pm, but the question is — who would actually benefit with this move? Is it becoming more a battle between the two exchanges to win market share?
It all started after the Securities and Exchange Board of India allowed exchanges to operate between 9 am and 5 pm. On Tuesday, the BSE was the first to move as it said it would advance its market opening time by 10 minutes from Dec. 18, saying it aimed to increase investor focus in the derivatives segment.
The NSE on Thursday announced it was advancing opening time by 55 minutes to 9 am from Friday. The BSE followed suit.