Extension of market hours: Brokers for status-quo

A prominent body of Indian stock brokers today demanded both Bombay Stock Exchange and National Stock Exchange to maintain status-quo in their trading hours until adequate infrastructure is in place.

"We are of the view that it is necessary to maintain status-quo on the timing, till adequate infrastructure is in place. There should not be any hurry to extend the market timing," Association of National Exchange Members of India, Secretary, Ishaq Merchant told reporters here.

Citing a recent survey, the association said nearly 62 per cent of its members are against the move as extending the trading hours could put additional load on the system.

"A weak infrastructure will not be in the interest of any concerned party and investor may lose out in the short run," Merchant said.

Although extended market hours seems inevitable in the long run, current infrastructure and environment does not completely support the move, he said.