Indian commodity exchanges MCX (Multi Commodity Exchange), NCDEX (National Commodity and Derivative Exchange) and ICEX (Indian Commodity Exchange Limited) will extend their trading hours for agricultural commodities by 2 hours from 31 December 2018. The trading window will be open between 9 am to 6 pm, extended by one hour on either side from the earlier timing of 10 am to 5 pm.
The extension is being put into action a month after SEBI allowed the exchanges to extend the timings amid protests from physical traders that the move would increase their costs that would not be compensated by the revenues. The approval for extension was given on 30 November.
Recently, traders in Unjha (Gujarat) and Jodhpur (Rajasthan) called a day's strike to oppose the new timings that would increase their workload. Unjha is the largest jeera market in the country.