MCX shares rebound after technical glitch delays commodity trading to 10 am

Commodity trading on the Multi Commodity Exchange of India Ltd (MCX) will begin with a delay of at least an hour on Tuesday and is likely to kick off from 10 am, instead of usual 9 am due to some technical issues. The pre-open window on the commodity bourse is set to kick off at 9.45 am, with a delay of 60 mins from its usual 8.45 am time.

“The end-of-day processes for yesterday’s (Monday) trade date have been delayed due to some technical issues and hence the special session will start at 09:45 am and market will start at 10:00 am today,” an official announcement on MCX website said.

MCX is the largest commodity exchange in India and the daily commodity trading session on the MCX begins at 9 am and ends at 11:30 am. The morning session is till 5 pm and the evening session kicks off at 5 pm. Futures of Agri-commodities are traded till 5 pm on MCX, while bullion, metals, and other energy futures are traded in the evening session as well till 11:30 pm.

However, it is the second time this year when the MCX is facing a technical glitch. On February 13, 2024, the commodity trading on the MCX kicked off at 1 pm, with a delay of 4 hours over its normal working hours subsequent to multiple delays.

Shares of Multi Commodity Exchange of India opened marginally lower at Rs 3,920.55 on Tuesday, but managed to scaled to Rs 3,971.55 during the early few minutes, commanding a total market capitalization of more than Rs 20,200 crore. The scrip had settled Rs 3,947.40 on Monday.