MCX to extend trading time for non-agri goods from Apr 23

The largest commodities exchange MCX has said its platform will be open for trade on non-agri goods to the old timing of up to 2330 hrs from Thursday following the relaxation in the COVID-induced lockdown curbs from Tuesday.

Multi-Commodity Exchange (MCX) will function from 0900 hrs to 2330 hrs for non-agri commodities, which is the previous trading hours, the exchange that controls more than 94 per cent of the trading volume, said in a statement.

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 0900-1700 hrs till April 14, the day the first lockdown was to end, from 0900-2330 hrs earlier.

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, it said.

While non-agri commodities will be open for trade from 0900 to 2330 hrs all other commodities (including internationally referenceable agri commodities like cotton, CPO, kapas & RBD palmolein) will continue to be traded only up to 1700 hrs till further notice, the exchange said.