Street signs: Trading hour extension, markets down the chimney, and more

The last week of this month is usually a good time for markets as it usually gains in the last five trading days of December and the first two trading days of the New Year

Existing infra not conducive to trading hour extension

National Stock Exchange of India (NSE) Managing Director and Chief Executive Officer Ashishkumar Chauhan batted for extending trading hours at a pre-Budget round table recently. However, officials at the Securities and Exchange Board of India believe the infrastructure is not ready yet. “There are some challenges in transitioning to a T+1 (trade plus one day) mechanism with respect to foreign exchange bookings. These bottlenecks have to be removed for longer trading hours to start rolling,” informed a source. To smoothen the transition to a T+1 settlement, the NSE has extended the cut-off time