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Sunday, April 05, 2020

Coronavirus effect: Exchanges cut trading hours for commodity trading till 5 pm

Commodity markets trade between 10 am to 11.50 pm, while equity markets close at 3.30 pm.

By: PTI | New Delhi | Published: March 26, 2020 5:43:13 pm
Visitors look at the price Index of the Multi Commodity Exchange of India in Mumbai, India on Friday, October 20, 2006. (Image source: Bloomberg)

Leading stock exchanges BSE and NSE on Thursday cut down trading hours for commodities derivative segment till 5 pm, instead of current practice of allowing it up till mid-night, in the wake of coronavirus pandemic.

The trading will begin at 9 am and close at 5 pm and the new timings will be effective from March 30 till April 14, the exchanges said.

In separate statements, commodity exchanges — MCX and ICEX — announced about the reduced trading hours.

Commodity markets trade between 10 am to 11.50 pm, while equity markets close at 3.30 pm.

“In view of the novel COVID-19 outbreak, the nationwide lockdown of 21 days and pursuant to discussions with Sebi, it has been decided to revise the trading timings,” BSE and NSE said in similar worded circulars.

Narinder Wadhwa, President, Commodity Participants Association of India (CPAI) said the move will provide great relief to all members amid a 21-day nationwide lockdown.

Earlier, CPAI had requested markets regulator Sebi to cut short the timing as they are not able to keep offices open up till mid-night.

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