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The country's two prime bourses, the National Stock Exchange and the Bombay Stock Exchange, are likely to extend the 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 said.

Last month, market regulator Securities and Exchange Board of India (Sebi) approved extension of the trading 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.

"Both the exchanges have already deliberated on the issue and they are likely to implement it after the expiry of the stock futures contract on November 26 or at the beginning of December contract," said an official privy to the development.