The exchange had initially asked members to note that the trading would start at 9:30 AM due to technical issues. Trading will start from DR. Inconvenience is regretted,” the company. In its third update within an hour, the Multi-Commodity Exchange (MCX) announced that the temporary trading halt would be extended, with operations now scheduled to begin at 10:30 AM on Tuesday, postponed from the previously communicated time of 10:00 AM. As of 11:53 am, trading hasn’t commenced yet.
While the exchange did not provide further details on the nature of the technical glitch, it confirmed that operations would resume from its Disaster Recovery (DR) site, a contingency infrastructure designed to ensure continuity of trading in case of primary site disruptions.
This isn’t the first time MCX has faced such an issue. Earlier in July this year, a similar technical glitch led to a delayed market opening, with trading commencing more than an hour after the scheduled time of 9:00 AM.
In February last year, MCX had also faced a major glitch that led to a four-hour suspension of operations. The issue was believed to be linked to its transition to a new trading platform.
Ahead of the October 28 session, precious metals were already under pressure, with December gold and silver futures ending sharply lower on October 27. The decline followed signs of easing trade tensions between the US and China, which reduced safe-haven demand and pushed gold below the key $4,000/oz mark.Investor sentiment cooled further amid expectations of an upcoming meeting between the two nations’ presidents to finalise a potential trade deal, weighing on bullion prices.However, early trade on October 28 saw a mild rebound in global gold prices, supported by a weaker US dollar and renewed expectations of additional rate cuts by the US Federal Reserve.
At about 12:03 pm, shares of the company were trading at Rs 9,120, down 2% from the last close on the NSE. MCX shares are up nearly 50% in the last six months.
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