Starting with 7th April, trading instances in India will be decreased. With a new timeframe, from 10 am to 2 pm. Market repo in government securities that now operates between 9 am and 2:30 pm will also adapt the new timeframe of 10 am to 2 pm.
The changes will come into effect on the 7th of April and last up until the 17th of April. Although many traders forecast the trading instances will be extended for the whole month.
Why Shift Trade Times?
The RBI declares the trading instances in an effort to deal with the unprecedented COVID-19 pandemic.
With social distancing guidelines and limitations of motion, many people work from home since prohibiting non-essential journeys.
By reducing trading hours, the RBI considers that they could minimise risks to employees and keep a healthier financial industry.
The RBI is adamant about reducing risks whenever possible as health budgets are already limited.
Will other companies behave accordingly?
In light of this continuing global outbreak, more nations are expected to announce changes to their own trading to restrict this virus’s spread.
For instance, on March 17th, the Philippines verified they would be shutting down stock, bond, and money trading for the near future.
The US is presently debating reducing trading hours, even though US trades are arguing strongly against making any modifications to trading occasions.
Imminent Changes Expected
As we continue to handle COVID-19, no doubt, more statements regarding trading instances will be unveiled during the upcoming few days. To remain in the know with the most recent news and information, keep seeing these pages on DayTrading.com.