Mumbai: Opening bell at the country's two premium stock exchanges, BSE and NSE, will ring an hour early at 9 am from Friday, with both the bourses advancing trading hours to align the timings with that in major Asian markets.
Rising competition from BSE, which on Tuesday advanced timings by 10 minutes, forced the National Stock Exchange to advance its trading hours by 55 minutes to 9 AM. Not to lag behind, Asia's oldest bourse, the Bombay Stock Exchange within minutes announced its changed timings, matching NSE's.
After advancing the timings to 9.45 AM on Tuesday, the BSE followed it today afternoon by saying that it will start trading on the block deals counter at 9.45, again effective from Friday. Picking cues from BSE, NSE by evening announced extending the trading hours.
In effect, trading hours would be extended on both the bourses by almost an hour. Currently, trading starts at 9.55 AM and closes at 3.30 PM.
"We have decided to advance the timing to 9 am from Friday," a BSE spokesperson told PTI.
"NSE is advancing the trading time to 9 AM effective from Friday," an NSE spokesperson said.
"With the change in other exchange's (BSE) timing, our market participants were concerned (and) there was a small sense of inevitability," NSE MD and CEO, Ravi Narain told a television news channel.
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