BSE, NSE Cut Commodities Trading Hours Amid India’s Coronavirus Lockdown
The Bombay Stock Exchange and the National Stock Exchange have cut trading hours for commodities derivative segment in the wake of coronavirus pandemic.
Commodities derivative trading will begin at 9:00 am and close at 5:00 pm from March to April 14, as against till midnight now, BSE and NSE said. Multi Commodity Exchange and Indian Commodity Exchange Ltd. also announced the reduced trading hours in separate statements. India’s commodity markets trade between 10:00 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 similarly worded circulars.
Narinder Wadhwa, president at Commodity Participants Association of India, said the move will provide great relief to all members amid the India lockdown. CPAI had earlier requested the markets regulator to cut short the timing as they are not able to keep offices open up till midnight.