Due to technical difficulties, the Multi Commodity Exchange (MCX) was unable to start trading commodity derivatives at 11 am and once more postponed the opening time of the commodity markets on Tuesday, February 13. Instead of starting trading as usual at 9 am, commodity trading on MCX will now resume at 1 pm. The commodities exchange had initially postponed the time to 10 and then 11 am.
The technical problem hasn’t been resolved yet, though. The commodity derivatives segment’s trading hours for February 13, 2024 have been moved from 9:00 AM to 1:00 PM. In a circular, MCX stated, “Members are requested to note, due to delay in file generation exchange, the market will start from 01:00 PM.”
According to the commodity exchange, the exchanges’ team is attempting to find a solution. Teams are attempting to fix the technical problems we are having. An MCX spokesperson told Livemint that the trading is anticipated to begin at 1 pm. According to SAS Online’s founder and CEO, Shrey Jain, brokers are waiting on position, margin, and trade files from MCX without which the processing of earlier trading sessions is delayed.
“We will complete the Beginning of Day procedure as soon as files are received and get the system ready for today’s trading,” Jain stated. In the meantime, the equity market was rising on a mix of global cues, driven by gains in banking and financial services stocks.
When the BSE Sensex opened at 71,556.46, up 483.97 points, or 0.68%, the NSE Nifty 50 was up 126.85 points, or 0.59%, at 21,742.90.
