The largest commodities exchange -- Multi-Commodity Exchange (MCX) has said its platform will be open for trade on non-agri goods to the old timing of up to 23:30 hrs from April 23, 2020, following the relaxation in the COVID-induced lockdown curbs from April 21, 2020. MCX will function from 09:00 hrs to 23:30 hrs for non-agri commodities, which is the previous trading hours, the exchange that controls more than 94% of the trading volume.
Even before the nationwide lockdown was declared on March 25, the exchanges were asked to cut short trading hours to contain the massive volatility in the markets due to the COVID pandemic from the middle of March. Accordingly, the trading time was massively cut short to 09:00-17:00 hrs till April 14, the day the first lockdown was to end, from 09:00-23:30 hrs earlier.
The exchange noted that in view of the representation received from market participants and pursuant to discussions with SEBI, it has been decided to revise trading timings, with effect from April 23. While non-agri commodities will be open for trade from 09:00 to 23:30 hrs all other commodities (including internationally referenceable agri commodities like cotton, CPO, kapas & RBD palmolein) will continue to be traded only up to 17:00 hrs till further notice.