In the wake of brokers raising objections to the extension of trading hours, market regulator Sebi today said it is entirely upto the exchanges to increase the market timings.

"There is perhaps a misconception in the market that we extended the market hours, we have told the exchanges that they can choose any hours between nine am to five pm for trading. Now the exchanges have to decide what is practical for them. We don't have any regulatory concerns," Sebi Chairman C B Bhave told reporters here.

Bhave was replying to a query about some brokers raising objection against the extension of trading hours.

Asked whether Securities and Exchange Board of India (Sebi) was in talks with RBI for extending banking
hours to align with extended trading session, Bhave said, "If the exchanges ask us for help to approach any institution, we will help them."

Country's two prime bourses, the National Stock Exchange and the Bombay Stock Exchange, are likely to extend trading time by two and half hours from next month and a formal notification to this effect is expected shortly.

"Both the exchanges (BSE and NSE) have discussed the issue (extension of trade timings) and a formal notification is expected shortly," a senior exchange official has said.

Last month, Sebi approved extension of trade timings by up to two-and-a-half hours from 9 am to 5 pm. The current market hours stand from 9.55 am to 3.30 pm.