Coronavirus Impact: Commodities market timing changed from 30th March; MCX, NCDEX to remain open from 9 AM to 5 PM

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Coronavirus Impact: Due to the ongoing Coronavirus lockdown in India to stop the COVID-19 virus spread, the Commodities market timings have been rescheduled. From 30th March 2020 to 14th April 2020, new Commodities market timing will be from 9:00 AM to 5:00 PM. The pre-Open session shall start from 8:45 AM and client code modifications will be allowed from 9:00 AM to 5:15 PM. Both commodity indices in India, MCX (Multi Commodity Exchange) and NCDES (National Commodity and Derivatives Exchange Limited) made the announcement in this regard today in a written statement.

The NCDEX informed about the new commodities trading timing in a written statement citing, “In view of the Novel Covid19 virus pandemic outbreak and the nation-wide lockdown of 21 days in the country and pursuant to discussions with SEBI it has been decided to revise the trading timings. Members and clients are requested to take a note of revised trade timings and revised client code modification timings at the Exchange with effect from Monday, March 30, 2020, to Tuesday, April 14, 2020.”

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In India, the complete lockdown has been announced barring some essential services and the stock market and commodities markets is one of them. Though there were demands from various quarters to shut down the stock market, commodities market and various other markets where social distancing was difficult and spread of Coronavirus had high probability, the Government of India thought otherwise. So, Commodities markets decided to reschedule their timings as the Commodities markets operate from morning 9 AM to evening at 11 PM. From 30th March to 14th April, the Commodities market from evening 5 PM to 11 Pm will remain closed.