The request from NSE to extend market trading hours in the derivatives segment was rejected by SEBI since the broker community could not agree on anything.
"Currently there is no plan to increase the timings (for trading) as SEBI has returned back the application which we had provided because the stock brokers seemed to have not given the feedback that SEBI wanted," stated NSE Chief Executive Ashishkumar Chauhan during a post-earnings conference.
The NSE had suggested that by keeping the futures market open for an additional three hours, from 6 to 9 p.m., market players would be better able to assess global activity. Additionally, it was purportedly intended to prolong index F&O hours from 6 to 9 p.m. in the first phase, and to extend them until 11.30 p.m. in the second and third phases, during which cash market hours may be extended until 5 p.m.
A portion believed that an extension would aid in mitigating any unfavorable news flow from international markets. The European market is open at this time, the Indian markets close at 3:30 pm, and the US market opens at about 7 pm India time. Amid ongoing optimism in the equities markets, NSE recently witnessed its net profit for the quarter ended March 31, 2024, increase 20% year over year (YoY) to Rs2,478 crore. The exchange's earnings increased to Rs 4,625 crore at an even quicker rate of 34%.
NSE's earnings increased 13% year over year to Rs 8,306 crore for the entire fiscal year 2023–24 (FY24), while sales increased by 25% to Rs 14,780 crore. For the year ending in FY24, the NSE Board has proposed a dividend of ₹90 per share (pre-bonus), which translates to a payout of ₹4,455 crores.
