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Covid-19: Exchanges cut hours for commodity trading till 5 pm

Covid-19: Exchanges cut hours for commodity trading till 5 pm

NEW DELHI: Main inventory exchanges BSE and NSE on Thursday minimize down buying and selling hours for commodities spinoff phase until 5 pm, as a substitute of present observe of permitting it up until mid-night, within the wake of coronavirus pandemic.
The buying and selling will start at 9 am and shut at 5 pm and the brand new timings can be efficient from March 30 until April 14, the exchanges mentioned.
In separate statements, commodity exchanges — MCX and ICEX — introduced in regards to the diminished buying and selling hours.
Commodity markets commerce between 10 am to 11.50 pm, whereas fairness markets shut 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 determined to revise the buying and selling timings,” BSE and NSE mentioned in comparable worded circulars.
Narinder Wadhwa, president, Commodity Individuals Affiliation of India (CPAI) mentioned the transfer will present nice reduction to all members amid a 21-day nationwide lockdown.
Earlier, CPAI had requested markets regulator Sebi to chop quick the timing as they don’t seem to be capable of hold places of work open up until mid-night.

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