BSE-NSE to extend trading amid protests

Things would not be the same for stock market participants like traders, brokers, banks and others come January 4. A major rivalry between BSE and NSE to garner more volumes and thus boost profits has ensured that trading in the cash as well as derivatives segments will begin at 9 am. The game of one-upmanship was kicked off by BSE when it decided to advance the trading hours by 10 minutes, to 9:45 am, from Dec. 18. Two days later, the NSE decided to go a step ahead by saying that it would open trading from 9 am. The NSE move sparked widespread uproar, mostly among local brokers. Some even accused the exchanges of announcing the move to boost their bottomlines and to appease the foreign shareholders. Others complained about the lack of adequate infrastructure and other systemic problems to support the move. All this forced both the exchanges to defer the plan to advance trading up to January 4. A lot will be said and written about the extended trading time in the coming days. But, that may not prevent BSE and NSE from going ahead with their planned move. Which means that the new year will begin on a different note for all connected with the stock markets.