In a statement issued in Mumbai, the BSE Brokers Forum said it opposed the move as there was no clear benefit for traders, stockholders , institutions and retail investors.
The forum said it would submit a memorandum to Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee and seek meetings with the heads of both the BSE and the NSE to air their concerns.
"If the exchanges start operating at 9 a.m., I need to open my office at least by 7.30 a.m.," said Binay Kumar Agarwal, a director of the Calcutta Stock Exchange (CSE).
"The infrastructure is not yet ready for trading to begin at 9 a.m. If I find my broadband connection is not working, I cannot get an engineer to fix it so early. Besides, banks don't operate at 9 a.m."
Is Extended Trading Hours are Bad?
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