This comes after NSE urged Sebi to extend trading hours for the equity derivatives segment in a phased manner. (Representative image)
The move was part of Sebi's efforts to integrate stock and commodity trading on a single exchange.
Capital markets regulator Sebi has rejected the National Stock Exchange's (NSE) proposal to extend trading hours for the equity derivatives segment, citing lack of feedback from the stockbroker community.
“As of now, there are no plans to extend the timing as Sebi has returned our application as the stock broker has not provided the feedback sought by Sebi. So, as of now, the extended period (plan) has been put on hold,” NSE MD and CEO Ashishkumar Chauhan said during an earnings analyst call.
This comes after NSE urged Sebi to extend trading hours for the equity derivatives segment in a phased manner. The goal was to potentially reduce the overnight risks posed by global information flows.
NSE Chief Business Development Officer Sriram Krishnan had told PTI in September that the exchange was planning a session from 6 PM to 9 PM, followed by a break after the regular session from 9.15 AM to 3.30 PM. .
Accordingly, in the commodity derivatives sector, a plan was proposed to gradually extend market timing until 11:55 p.m. First, in the first stage, only index derivatives were proposed, followed by single stock options.
In 2018, the Securities and Exchange Board of India (Sebi) allowed stock exchanges to set trading hours for the equity derivatives segment between 9 AM and 11:50 PM. This is similar to trading hours for the commodity derivatives sector, which are currently fixed at 10am to 11.55pm.
The move was part of Sebi's efforts to integrate stock and commodity trading on a single exchange.
Regarding NSE's IPO, Chauhan said, “The situation is as it is now.” Last month, he said NSE was awaiting approval from Sebi to begin the initial public offering process. NSE's listing plans were canceled amid Sebi's ongoing probe into the exchange and some of its senior officials.
For the fourth quarter ended March 2024, NSE reported consolidated net profit of ₹2,488 trillion, up 20% year-on-year.
Additionally, consolidated operating revenue for the first and third quarters of fiscal 2023-24 was ₹4.625 billion, up 34% compared to the same period last year.
In addition to trading, total revenue was also supported by other revenue lines including listings, index services, data services and co-location facilities.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)