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| NSE sees 25% rise in volumes |
| Vimukt Dave / Rajkot Oct 27, 2009, 00:27 IST |
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Extended trading hours on equity exchanges may lead to a rise in trading volume by 20-25 per cent, according to a National Stock Exchange (NSE) top official.
“Based on the experience of other countries, I can say that the trading volume of the stock market may rise 20-25 per cent when these extended timings are implemented,” said Ravi Narain, managing director and chief executive officer, NSE, on the sidelines the launch of a point of presence in Rajkot. At present, the trading hours in India are between 9.55 am and 3.30 pm, with a trading volume of Rs.1.25 lakh crore per day.
He said, “The West is now looking towards the East, especially towards the Asian countries. Global growth is now flowing from western countries to eastern countries, in which India plays a significant role. This is our time and we have to make sure that we are upgraded in terms of technology.”
Realising the importance of technology in trading, NSE was focusing on technology upgrades in semi-urban and rural areas owing to the fact that business flow was increasing from these areas, he said. Commenting on terrorists making investments in stock market, Narain said, “These can be identified through the know your client (KYC) norms,” adding that there was a dire need for transperancy in markets.
In order to curb funds for terror activities, Sebi has directed all stock exchanges and other securities intermediaries to keep a strict watch on UN-listed terror funding entities.
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