The Bombay Stock Exchange, Asia’s oldest bourse, will extend trading time by 10 minutes to increase transaction volumes.
The exchange will open for trading at 9:45 a.m. local time instead of 9:55 a.m. from Dec. 18, the bourse said in a statement posted on its Web site today. The exchange didn’t change the closing time of 3:30 p.m.
India’s market regulator on Oct. 23 allowed stock exchanges to extend trading from 9 a.m. to 5 p.m., adding 2 hours 25 minutes to the day. Bourses won’t extend until there’s a consensus on timing and most market participants oppose the change, Ravi Narain, chief executive officer at the National Stock Exchange of India Ltd. said last month.
The National Stock Exchange of India, the nation’s largest bourse, and Bombay Stock Exchange trade for five hours, 35 minutes a day. That compares with four hours on the Shanghai Stock Exchange and 6 1/2 hours on the Singapore Exchange.