The alternate had initially requested members to notice that the buying and selling would begin at 9:30 AM on account of technical points. Buying and selling will begin from DR. Inconvenience is regretted,” the corporate. In its third replace inside an hour, the Multi-Commodity Alternate (MCX) introduced that the non permanent buying and selling halt can be prolonged, with operations now scheduled to start at 10:30 AM on Tuesday, postponed from the beforehand communicated time of 10:00 AM. As of 11:53 am, buying and selling hasn’t commenced but.
Whereas the alternate didn’t present additional particulars on the character of the technical glitch, it confirmed that operations would resume from its Catastrophe Restoration (DR) website, a contingency infrastructure designed to make sure continuity of buying and selling in case of major website disruptions.
This isn’t the primary time MCX has confronted such a difficulty. Earlier in July this yr, an identical technical glitch led to a delayed market opening, with buying and selling commencing greater than an hour after the scheduled time of 9:00 AM.
In February final yr, MCX had additionally confronted a significant glitch that led to a four-hour suspension of operations. The difficulty was believed to be linked to its transition to a brand new buying and selling platform.
Forward of the October 28 session, treasured metals have been already beneath stress, with December gold and silver futures ending sharply decrease on October 27. The decline adopted indicators of easing commerce tensions between the US and China, which lowered safe-haven demand and pushed gold under the important thing $4,000/oz mark.Investor sentiment cooled additional amid expectations of an upcoming assembly between the 2 nations’ presidents to finalise a possible commerce deal, weighing on bullion costs.Nonetheless, early commerce on October 28 noticed a light rebound in world gold costs, supported by a weaker US greenback and renewed expectations of extra charge cuts by the US Federal Reserve.
At about 12:03 pm, shares of the corporate have been buying and selling at Rs 9,120, down 2% from the final shut on the NSE. MCX shares are up almost 50% within the final six months.
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