New commodity traders are often puzzled that MCX closes at 23:55 one week and 23:30 a few months later. Nothing is wrong with the clock. The Multi Commodity Exchange (MCX) lines up its evening session with US markets, and the US changes its clocks twice a year for daylight saving time. India does not. This guide explains the rule, gives the dates, and shows how the change shifts the important evening events too.
The rule in one line
- While the US is on daylight saving time (roughly March to November): MCX metals and energy trade 09:00 to 23:30.
- For the rest of the year (roughly November to March): they trade 09:00 to 23:55.
This applies to internationally linked commodities: gold, silver, crude oil, natural gas, and base metals such as copper, zinc and aluminium. Agricultural commodities on MCX (such as cotton and some oils) have shorter daytime sessions that end much earlier. MCX announces each change by circular, so check MCX for the exact timings and for any holiday sessions.
What daylight saving time is
In summer, the US moves its clocks forward by one hour to make better use of evening daylight, and moves them back in autumn. US Eastern time (New York) is 5 hours behind UTC in winter (called EST) and 4 hours behind in summer (called EDT). India stays at UTC + 5:30 all year.
| Period | New York time | Gap to India | 09:00 in New York is |
|---|---|---|---|
| US winter (standard time) | UTC − 5 | 10 h 30 m | 19:30 India time |
| US summer (daylight saving) | UTC − 4 | 9 h 30 m | 18:30 India time |
In the US summer, everything in New York happens one hour earlier in India time. MCX moves its close earlier to match.
An easy way to remember it: the gap between New York and India is 9 hours 30 minutes in the US summer and 10 hours 30 minutes in the US winter. Add that gap to any New York time to get India time. For example, 10:30 in New York is 20:00 in India in July and 21:00 in India in January. If a website or app shows US event times in New York time, this one step converts them correctly all year.
The dates
US daylight saving begins on the second Sunday of March and ends on the first Sunday of November. MCX applies the new hours from the next trading day.
- In 2026, US daylight saving ran from 8 March to 1 November. So MCX traded to 23:30 from early March and returned to 23:55 from 2 November.
- In 2027 it begins on 14 March, so MCX is expected to close at 23:30 again from 15 March. Confirm with the MCX circular.
Europe changes its clocks on different dates (the last Sundays of March and October), so for a week or two each year London and New York are out of step. MCX follows the US.
Why MCX follows US hours
Gold, silver, crude oil and natural gas are priced globally, and the most active trading in them takes place during US hours. MCX prices are tied to US benchmarks: MCX crude to WTI and MCX natural gas to Henry Hub, both on NYMEX. Keeping MCX open through the busiest part of the US day lets Indian traders react to US news and hedge positions while the main markets are moving. When US hours shift by an hour, MCX shifts its close by about the same amount.
The result is that, in New York time, the MCX close stays in roughly the same place all year: around 13:30 to 14:00 in New York, after the main US trading hours for energy and metals have done most of their business. Only the India-time label changes. The opening time of 09:00 India time does not move, because it is set for Indian traders, not for US markets. So the MCX day is simply 25 minutes shorter in the US summer than in the US winter.
A live example: the evening session
The crude oil straddle below shows how option prices behave across the long MCX day. Notice how the line tends to drift in the Indian afternoon and become more active in the evening:
Look at when the day's high and low were made. On many days the biggest moves come after 18:00, once US traders are at their desks and US data has been released. The crude oil guide explains what drives those moves.
Evening events also move by an hour
The same clock change shifts every US data release in India time. A release at 08:30 New York time lands at 18:00 India time during US daylight saving and at 19:00 otherwise.
| Event (New York time) | India time, US summer | India time, US winter |
|---|---|---|
| US jobs report, US inflation (08:30) | 18:00 | 19:00 |
| US stock market opens (09:30) | 19:00 | 20:00 |
| Crude inventory report, Wednesday (10:30) | 20:00 | 21:00 |
| Gas storage report, Thursday (10:30) | 20:00 | 21:00 |
| Federal Reserve decision (14:00) | 23:30 | 00:30 (after MCX closes) |
The last row matters. In the US summer, a Federal Reserve decision lands right at MCX's 23:30 close, leaving almost no time to react. In the US winter it arrives after MCX has shut, so its effect shows up at the next morning's open. Check the economic calendar for the exact dates each week.
How the change affects traders
- Intraday positions. Brokers usually square off open intraday positions shortly before the close. When the close moves to 23:30, so does that cut-off.
- Alarms and routines. A habit of checking positions at 23:45 works in winter but is too late in summer.
- Expiry days. Commodity options and futures can have their own expiry-day timings. Check the contract specification.
- Comparing charts across seasons. A summer chart has 25 fewer minutes than a winter chart, so volume and range totals are not quite like for like.
Other MCX timing facts
- MCX opens at 09:00, earlier than NSE equity at 09:15.
- MCX holidays differ from NSE's. On some Indian holidays MCX closes for the morning but opens for the evening session, because global markets are open. The market timings guide and the holiday list cover both.
- Agricultural contracts usually stop trading in the late afternoon or early evening; check MCX for their exact hours.
Common mistakes
- Assuming the close never changes. It shifts twice a year with the US clocks.
- Using UK dates. Europe and the US change clocks on different weekends; MCX follows the US.
- Forgetting the data times move too. A trader who expects the US jobs report at 19:00 in July will be an hour late.
- Holding a position into a late Federal Reserve decision. In the US summer there may be no time to exit before MCX closes.