The Securities and Exchange Board of India (Sebi) has rejected the proposal by the National Stock Exchange (NSE) to extend the market time in the derivatives segment, media reports said.

During an analyst call, NSE’s MD & CEO Ashishkumar Chauhan said that Sebi has returned the exchange’s proposal to increase trading time due to a lack of consensus among the broker community, the report added. Earlier in February, a report said that the Association of National Exchange Members of India (ANMI) had given its in-principle approval for the proposal to extend trading hours for index futures. The NSE had proposed extension of hours for index F&O trading in a phased manner. The first phase would see evening sessions between 6 p.m. IST and 9 p.m. IST, in addition to the regular trading hours of 9:15 a.m. to 3:30 p.m. In the second phase, Index derivatives trading would be extended till 11:30 PM. Finally, in the third phase, the plan is to extend cash market trading hours until 5 PM. Livemint tops charts as the fastest growing news website in the world to know more. Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away!