MCX Technical Glitch: Commodity Trading Hours Revised Again; Exchange To Start Market From 1 PM

As per the latest circular by MCX, trading hours for commodity derivatives segment for February 13, 2024 has been revised from 9:00 a.m. to 01:00 p.m. Due to delay in file generation exchange will start the market from 01:00 p.m.

This is the third time today that the trading hours have now been revised due to technical issues. Earlier, the Multi Commodity Exchange (MCX) had further delayed the opening time of commodity markets to 11 a.m. on Tuesday, February 13, due to technical glitches.

The exchange had initially stated that the market would be opened at 10 a.m. The MCX statement said, "We are facing technical issues and teams are working to resolve the same. The market will be opened tentatively at 10 a.m."

The circular on the MCX website had stated the following, "In terms of the provision of the Rules, Bye-Laws and Business Rules of the Exchange, and in accordance with SEBI Circular no. SEBI/HO/CDMRD/DMP/CIR/P/2018/146 dated November 30, 2018 on Trading hours for commodity derivatives segment for February 13, 2024 has been revised from 9:00 AM to 11:00AM Members are requested to take note of the above."

Another circular which was posted earlier in the day stated that the trading hours for commodity derivatives segment for February 13, 2024 has been revised from 9:00 AM to 10:00AM

Meanwhile the equity markets opened higher on Tuesday tracking gains in shares of ICICI Bank Ltd., Reliance Industries Ltd, as investors await the release of U.S. CPI data today.

The NSE Nifty 50 opened 0.18% or 39.5 points higher at 21,655.55, and the S&P BSE Sensex opened 0.27% or 194.1 points higher at 71,266.59.

Commodity trading timings in India from Monday to Friday are from 9 a.m. to 11:30/11:55 p.m. Trading does not happen on Saturdays and Sundays and on certain holidays.