Zee Media Bureau
The stock markets will remain open on Budget day, which falls on Saturday.
Finance Minister Arun Jaitley will present the first full Budget of the Prime Minister Narendra Modi-led government on February 28 amidst heightened expectations that the government will go for major reforms.
Meanwhile, calling for developing more in-house market research talent, Sebi Chairman U K Sinha on Friday said the capital markets watchdog and our stock exchanges are sitting on a mount of very valuable data but all the analysis of such data is being done outside the country.
Explaining further, he said based on the market data generated here lots of research are taking place outside the country as there is no forum through which that research can be done here.
For instance, Sinha said: "We have no clue about the data analysis from high frequency trade. We do not know what are the trends and what are the learnings from these trends that are happening here, as there is nobody here who can analyse them."
So, all the inputs that we are getting from experience and research are done outside the country, he said, adding that there is a need to create a strong research at the National Institute of Securities Market and the research should be available to all.
Sinha also said Sebi has committed Rs 225 crore, out of its Rs 325-crore budget, for constructing a new campus for NISM at Patalganga near here.
On the call for extending the currency derivatives trading to 7.30 pm, Sinha said the matter is under discussion between the RBI, the Sebi and the Finance ministry. Sebi plays rather a smaller role in this.
With agency inputs
