mulling proposal for fewer trading holidays

MUMBAI: Market regulator SEBI is looking into a proposal by several investors to allow fewer trading holidays on stock exchanges in line with the global practice.

"SEBI is actively considering the proposal to reduce the trading holidays at bourses and is likely to take a decision on the matter soon," an official close to the development said. According to analysts, this move by Securities and Exchange Board of Ind ia (SEBI) will increase the trading volume in domestic bourses and would also attract foreign investors.

SMC Capitals Equity Head Jagannadham Thunuguntla said, "From the global standards, India has more number of trading holidays. The reducing of holidays would increase the participation of investors, including the foreign ones, and would increase the tradi ng volume," he said.

For 2009, the Bombay Stock Exchange has 19 listed trading holidays and these exclude the weekly Saturday and Sunday off. In developed countries the trading holiday at leading bourses are far less. For 2009, there are only nine trading holidays on the New York Stock Exchange. - PTI