MCX Announces Delay In Trading, Cites Technical Glith; Session To Start With An Hour Delay At 10 AM

Today, commodity traders on MCX Ltd. will experience a delayed start to their trading day, with sessions set to commence at 10 am instead of the usual 9 am. This announcement comes as MCX cites technical issues that have affected its end-of-day processes from yesterday's trade date.

In a statement addressing the delay, MCX clarified, "The end-of-day processes for yesterday's trade date have been delayed due to some technical issue and hence the special session will start at 9:45 AM and the market will start at 10 AM today."

MCX, known for its role as a leading commodity derivatives transaction platform, typically operates with a trading schedule that spans Monday through Friday. The regular trading session begins at 9 am and concludes at 11:30 pm, segmented into morning and evening sessions. The morning session persists until 5 pm, primarily for agri-commodities futures, whereas metals, bullions, and energy products remain tradable until the evening session closes at 11:30 pm.

On Monday, MCX shares closed slightly lower, down 0.7% to Rs 3,955. Despite this, the stock has shown a notable gain of 25% thus far in 2024.

Earlier this year, MCX encountered a technical glitch that disrupted commodity markets trading. On February 13, 2024, trading on MCX commenced at 1 pm instead of the usual time, following several delays.

In contrast, Indian stock market exchanges BSE and NSE opened as scheduled on Tuesday. The Sensex showed a rise of 174.92 points, or 0.22%, reaching 80,135.30, while the Nifty 50 gained 43.15 points, or 0.18%, to settle at 24,363.70.

Brokerage firm Zerodha notified its clients about the delay in MCX trading. "Due to operational delays at the Multi Commodity Exchange (MCX), the commodity markets will open at 10 AM today," Zerodha announced on X.

As of 10:35 am, MCX shares were trading higher by 0.35% at Rs 3,960 per share on the National Stock Exchange (NSE).

The delay in trading commencement shows the technical intricacies inherent in managing a robust trading platform like MCX. Traders and investors await the market's opening at 10 am.