Mumbai, October 28 (IANS). Trading on the Multi-Commodity Exchange (MCX) was halted for more than four hours on Tuesday due to a technical glitch. This was the largest disruption ever in the history of a commodity trading platform.
MCX said in an exchange filing that after a problem was detected in the system, trading could not begin at the scheduled time of 9.30 am. The exchange later transferred its operations to the disaster recovery (DR) site, where trading resumed at 1.25 pm.
MCX said in the statement that operations on all trading platforms have now become normal. Investigation of this problem has been started on priority basis. We are committed to finding the cause and implementing necessary corrective measures. Information regarding the findings of the investigation and action taken will be shared from time to time.
The exchange regretted the disruption and thanked market participants for their patience and understanding.
This is the second time in 2025 that the country’s largest commodity exchange has faced a major technical glitch, raising concerns about the strength of its trading infrastructure.
At the same time, the Indian stock market closed with a slight decline in Tuesday’s trading session. At the end of trading, Sensex was down 150.68 points or 0.18 per cent at 84,628.16 and Nifty was at 25,936.20, down 29.85 points or 0.11 per cent.
There was mixed trading in Nifty Midcap and Nifty Smallcap also. Nifty Midcap 100 index closed with a marginal fall of 14 points at 59,765.35 and Nifty Smallcap 100 index closed with a marginal rise of 4 points at 18,407.60.
Tata Steel, L&T, SBI, Kotak Mahindra Bank, Bharti Airtel, Tata Motors Passenger Vehicles, Eternal (Zomato) and HDFC Bank were the top gainers in the Sensex pack. Trent, ICICI Bank, Tech Mahindra, Bajaj Finserv, M&M, Power Grid, TCS, Bajaj Finance, NTPC, HCL Tech, Axis Bank and UltraTech Cement were the top losers.
–IANS
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