The Multi Commodity Exchange of India (MCX) stands as the country’s leading commodity derivatives exchange, offering a platform for trading in a diverse range of commodities, from metals and energy to agricultural products. Being aware of the MCX holidays 2024 is important for traders and investors to plan their commodity trading activities. In order to manage risks and optimise their investment strategies along with schedules, the MCX holidays list can help.
If you are a trader or investor or an individual keen about trading, then reading this blog will help you plan your next trading move. Also, it is important to know the commodity market holidays & trading hours and sessions of the market, such as those of the Multi Commodity Exchange of India.
| The market timings for MCX Trading:
Morning session: 9:00 AM – 5:00 PM Evening session: 5:30 PM – 11:30 or 11:55 PM |
Define MCX
MCX stands for Multi Commodity Exchange of India Limited. Being the largest commodity derivatives exchange, established in 2003. It is an online platform for trading various commodities such as agriculture products , metals and crude oil or natural gas.
| Note: MCX is an online platform for trading commodities.There is no offline mode available for trading on MCX. |
Products of MCX
The products offered by MCX are of four types;
- Bullion
- Base metal
- Agri-Commodities: This is a broad category that includes various agricultural products like grains, oilseeds, pulses, fibers and spices.
- The product category of bullion consists of silver, gold, silver mini, silver 1000, gold mini, gold metal, gold guinea, etc. Zinc, nickel, aluminum, brass, lead, nickel mini, zinc mini and nickel mini are included under the category of base metals. MCX’s energy section encompasses natural gas, unrefined oil and crude oil mini. The agricultural commodities offered by the exchange include mentha oil, cotton, black pepper, cardamom and crude-palm oil.
MCX Trading and Indian Government Rules
MCX operates under a stringent regulatory framework to ensure fair and transparent trading.
The Securities and Exchange Board of India (SEBI) is the primary regulator for MCX. SEBI oversees various aspects of the exchange’s operations, including:
- Market integrity: Preventing market manipulation and insider trading.
- Investor protection: Ensuring fair treatment for all market participants.
- Clearing and settlement: Regulating clearing and settling trades.
- Risk management: Implementing measures to control market risks.
Key regulations governing MCX trading:
- Margin requirements: Traders must maintain a certain amount of margin to participate in trading.
- Position limits: Restrictions on the number of contracts a trader can hold.
- Client protection fund: A mechanism to safeguard investor interests in case of broker defaults.
- Surveillance and monitoring: Continuous surveillance of market activity to detect irregularities.
List of MCX Holidays 2024
MCX deals depend on active trading for accurate price discovery. The Holidays and timings will potentially lead to lower trading volume, making it difficult to determine fair prices for contracts. These are also agricultural products, metals and energy products.
| Date | Occasion | Timing |
| 1 January 2024 | New Year’s Day | Evening Off |
| 26 January 2024 | Republic Day | Full Day Off |
| 8 March 2024 | Maha Shivaratri | Morning Off |
| 25 March 2024 | Holi | Morning Off |
| 29 March 2024 | Good Friday | Full Day Off |
| 10 April 2024 | Id-ul-Fitr (Ramzan ID) | Full Day Off |
| 14 April 2024 | Dr. Baba Saheb Ambedkar Jayanti | Full Day Off |
| 17 April 2024 | Ram Navami | Full Day Off |
| 21 April 2024 | Mahavir Jayanti | Morning Off |
| 1 May 2024 | Maharashtra Day | Morning Off |
| 17 June 2024 | Bakri Id / Eid ul-Adha | Morning Off |
| 17 July 2024 | Muharram | Morning Off |
| 15 August 2024 | Independence Day | Full Day Off |
| 7 September 2024 | Ganesh Chaturthi | Morning Off |
| 2 October 2024 | Mahatma Gandhi Jayanti | Full Day Off |
| 13 October 2024 | Dussehra | Morning Off |
| 1 November 2024 | Diwali – Laxmi Pujan | Morning Off |
| 2 November 2024 | Diwali – Balipratipada | Morning Off |
| 15 November 2024 | Guru Nanak Jayanti | Morning Off |
| 25 December 2024 | Christmas | Full Day Off |
Effect of MCX Holidays
The traders and the investors as well experience lower trading volume along with commission income during MCX holidays. Hence, the MCX holidays affect these two groups of people in the commodity market mainly:
- Traders: The MCX exchange is closed, and traders cannot execute buy or sell orders for commodities. This can be a significant issue, especially for short-term traders who rely on market movements to generate profits.Traders with open positions during an MCX holiday cannot adjust those positions until the exchange reopens. This can lead to increased risk exposure, particularly for volatile commodities.
- Investors: Investors cannot actively monitor their commodity holdings or make adjustments to their portfolios while the exchange is closed. This can be a minor inconvenience for long-term investors but could be more impactful for those managing more actively traded portfolios.
Not just traders and investors, brokers may experience lower trading volumes and commission income during MCX holidays.The commodity and the duration of the holiday, MCX closures can temporarily impact pricing and supply chain logistics.
Also Read: National Stock Exchange (NSE) Holiday
Importance of MCX Holidays
- MCX holidays play a major role in ensuring smooth functioning of the commodity derivatives market in India. Here’s an better understanding of their importance:
- Planning and Avoiding Disruptions:By knowing about holidays in advance, traders can plan their trading activities effectively. This helps them avoid situations where they might have open positions during a market closure, leading to potential losses or missed opportunities.
- Scheduled Breaks for Market Participants:MCX holidays provide traders, brokers, and other market participants with necessary breaks. This allows them to catch up on personal matters, analyze market trends, and return to trading with renewed focus.
- Maintenance and Regulatory Compliance: During holidays, the exchange can perform essential maintenance on its trading systems. This ensures the smooth functioning of the platform and minimizes technical glitches that could disrupt trading activities.
- Alignment with National Events:MCX holidays often coincide with national and regional holidays in India. This allows traders to participate in important cultural and social events while respecting traditions.
Also Read: RBI Banned Forex Trading App List
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Frequently Asked Questions
Q. What are the trading holidays for MCX in 2024?
A. The trading holidays for MCX in 2024 can change and are officially declared by the exchange. It’s best to refer to the official MCX website or financial news sources closer to the year for accurate information.
Q. How many holidays are there in 2024 for MCX?
A. The exact number of holidays can vary and will be officially announced by MCX. Generally, there are around 12-15 trading holidays in a year, but this can change based on the exchange’s schedule.
Q. Is MCX open 24 hours?
A. No, MCX is not open 24 hours. It operates during specific trading hours which are determined by the exchange.
Q. What are the working days of MCX?
A. MCX operates on all weekdays (Monday to Friday), except on declared trading holidays.
Q. Is MCX open on Saturday in India?
A. No, MCX is not open on Saturdays in India. It follows a Monday to Friday schedule for trading activities.
