Monday, January 4, 2010

 

Dalal street to open at 9 am

The Dalal Street will start the first day of the new year an hour early at 9am from Sunday, as the exchanges have decided go ahead with the new timing, notwithstanding protests from brokerages.
With a view to better align the domestic markets with the Asian bourses, the both Bombay Stock Exchange and National Stock Exchange had late last month announced the advancing the trading timing to 9am with effect from January 4, from 9.55 am earlier.
However, the closing bell remains the same at 3.30 pm. "The new trade timing would be in the larger interest of the investors as they will get more time to trade.
Besides, it will help our markets integrate more with the global counterparts," a top NSE official. The brokerages are, however, divided on their views as to whether the extended trading will benefit investors as a whole. ICICI Securities executive director Anup Bagchi said, "we are happy that the market timings have got extended, as greater overlap with Asian markets will help reduce risk." On the other hand, Bonanza Portfolio assistant vice-president Avinash Gupta is not sure about how it will help the investors saying, "there might be some increase in the F&O volume, but cash segment will not see much of a volume increase,"


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