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Market Intelligence › Basic Terminologies
The effect of the late-night session on both position and behaviour
Published by The Retail Trader · AUG 03, 2026 · Derivatives & Commodities
The commodity market stays open much longer than equity, because its underlying global markets are active at night. This is both a convenience and a risk.
The real price discovery for crude, gold and base metals happens on international exchanges. If the local market did not stay open alongside them, a big gap would appear every morning.
So the evening session overlaps with global data releases, and that is where volatility is highest.
Long hours have their own costs:
• Staying in front of the screen longer lowers the quality of decisions.
• Liquidity in the night session can be lower than in the day.
• Around global data releases the spread becomes wider.
• Decisions taken while tired can change the result of the whole day.
Set your own trading window; do not take the market's full window. Closing at a fixed time and afterwards only managing existing positions — this is a rule that is most useful in a market with long hours.
This article is for education only — it is not a buy or sell recommendation, makes no claim of a guaranteed return, and is not advisory. Rules, rates and mechanics are changed from time to time by the exchanges, SEBI and RBI, so verify every number yourself with your broker or the official source.