The management committee of the Bombay Stock Exchange (BSE) Brokers Forum has asked the Exchange to reconsider the new trade timings that would come into effect from next month.
In a release, the Committee said that it does not see any visible and clear benefit to any market participant, stakeholder, institution or retail investor due to the move to advance market opening to 9am from 9.55am. This has also been reaffirmed by 79% of the trading members of BSE in a survey conducted by the BSE Brokers Forum in November 2009.
No sections of the markets have demanded any such move and there is no consensus on the matter, the Committee said.
The BSE Brokers Forum has asked both the exchanges, BSE and the National Stock Exchange (NSE) to take into consideration the ill-effects of the early opening at 9am on the market participants and investors at large and appealed them to reconsider their decision.
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