One of the things to understand about commodity trading is that the commodity market hours are much longer. To understand the commodity market hours in India, let us look at some important aspects of the commodity market hours as well as the list of commodity market holidays.
COMMODITY MARKET HOURS
For commodity market trading hours, we will look at the actual commodity market hours as well as the list of trading and clearing holidays.
Here are the normal market hours for the commodities markets.
Trading on the Commodity Derivatives segment of the exchange will take place every weekday from Monday to Friday. This excludes Saturdays and Sundays and public holidays declared in advance by the Exchange and notified to members of the Exchange. The market timings of the commodity derivatives segment are:
- Normal opening of the market: 09:00
- Normal closing of the market: 11:30 p.m.
Since commodity trading can only take place on stipulated trading days on commodity exchanges, let’s also look at the list of trading holidays and clearing holidays. Below is the complete list of commercial holidays for this year and this list changes every year.
| Commodity category | Trade start time | Trade end time (after start of DST in spring) | Trade end time (after DST ends in spring) |
|---|---|---|---|
| Non-agricultural products of international reference | 09:00 | 11:30 p.m. | 11:55 p.m. |
| Trade modification | 11:45 p.m. | 11:59 p.m. | |
| Position Limit/Guarantee Value Setup/Limit End Time | 11:45 p.m. | 11:59 p.m. |
Since commodity trading can only take place on stipulated trading days on commodity exchanges, let’s also look at the list of trading holidays and clearing holidays. Below is the complete list of commercial holidays for this year and this list changes every year.
| Sr No | Date | Day | The description |
|---|---|---|---|
| 1 | 26-Jan-2021 | Tuesday | republic day |
| 2 | 02-Apr-2021 | Friday | Good Friday |
However, many public holidays fall on a Saturday or Sunday and would therefore be considered commercial holidays. Here is a list of commercial holidays that fall on a weekend.
| Sr No | Date | Day | The description |
|---|---|---|---|
| 1 | 25-Apr-2021 | Sunday | Mahavir Jayanti |
| 2 | 01-May-2021 | Saturday | Maharashtra Day |
| 3 | August 15, 2021 | Sunday | independence day |
| 4 | 02-Oct-2021 | Saturday | Mahatma Gandhi Jayanti |
| 5 | 25-Dec-2021 | Saturday | Christmas |
Several holidays may not be trading holidays for commodity markets, but could be clearing holidays. These are days when banks are not operating, so commodity trades for that date cannot be cleared and will be cleared on the next business day. Here is a list of these holidays.
| Sr No | Date | Day | The description |
|---|---|---|---|
| 1 | 26-Jan-2021 | Tuesday | republic day |
| 2 | 19-Feb-2021 | Friday | Chhatrapati Shivaji Maharaj Jayanti |
| 3 | March 11, 2021 | Thusday | Mahashivratri |
| 4 | March 29, 2021 | Monday | holi |
| 5 | 01-Apr-2021 | Thusday | Annual bank closing |
| 6 | 02-Apr-2021 | Friday | Good Friday |
| 7 | 13-Apr-2021 | Tuesday | Gudi Padwa |
| 8 | 14-Apr-2021 | Wednesday | . Babasaheb Ambedkar Jayanti |
| 9 | 21-Apr-2021 | Wednesday | Ram Navami |
| ten | 13-May-2021 | Thusday | Id-Ul-Fitr (Ramzan Id) |
| 11 | 26-May-2021 | Wednesday | Buddha Purnima |
| 12 | -July-2021 | Wednesday | Bakri ID |
| 13 | August 16, 2021 | Monday | parsi new year |
| 14 | August 19, 2021 | Thusday | Muharram |
| 15 | 10-Sep-2021 | Friday | Ganesh Chaturti |
| 16 | 15-Oct-2021 | Friday | Dussehra |
| 17 | Oct 19, 2021 | Tuesday | Id-E-Milad |
| 18 | 04-Nov-2021 | Thusday | Diwali – Laxmi Pujan |
| 19 | 05-Nov-2021 | Friday | Diwali-Balipratipada |
| 20 | 19-Nov-2021 | Friday | Guru Nanak Jayanti |
Commodity traders should plan their trading and deliveries accordingly, keeping these trading and clearing holidays in mind.
STOCK MARKET HOURS (STOCKS)
negotiation session
The pre-open session will last 15 minutes from 9:00 am to 9:15 am. The pre-opening session includes the order entry period and the order matching period.
The pre-open session will consist of two sessions viz.
- Order entry period.
- Order matching period.
After the order matching period, there is also a buffer period to ease the transition from pre-opening to ongoing session
Order entry period
- The order entry period is 8* minutes, during which order entry, modification and cancellation are permitted. (* – System controlled random stop between 7th and 8th minute)
- Limit and market orders will be permitted.
- Dissemination of the indicative equilibrium price, the indicative matchable quantity and the indicative values of the index
Order matching period
- The order matching period will begin immediately after the end of the order entry period. During this period, no order additions/modifications/cancellations will be allowed.
- The next step is determining the opening price and confirming the trade.
Trading session continues 9:15 a.m. – 3:30 p.m. Trades occur continuously when orders match time/price priority
With the introduction of the call auction session, the trading day will look like this:
Chart source: www.bseindia.com
The continuous trading session will only start after the end of the pre-opening session. The two trading sessions, the continuous and call (pre-open) auction sessions will not take place simultaneously.
The block trading session (35 minutes) will start with the start of the continuous session.
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