Can commodity markets trading in India (MCX/ NCDEX) be stopped for any reasons, other than a holiday?

Yes it’s possible. Let’s us understand the same with respect to the different market segments. Multi Commodity Exchange (MCX) and National Commodity & Derivatives Exchange Limited (NCDEX) are the online trading platform for trading in commodities segment in India. Commodities segment basically divided into two categories, which are Agri Commodities & Non-Agri Commodities. Halt of trading in any particular commodity is based on the Daily Price Limit (DPL) which is stipulated by the exchange to prevent any unusual movement. DPL is exchange decided percentage in which price of a particular commodity may increase or decrease in any single trading day from its previous day's settlement price. It differs from commodity to commodity and below mentioned table represents the DPL for different Agri Commodities:-

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Let us try to understand the above data with example of Barley which is having daily base price limit of (+/-) 2%. Once the 2% limit is reached on either side, then after a cooling off period of 15 minutes this limit shall be increased further by 2%. Traders can trade during the 15 minutes cooling off period within the 2% limit. After the daily price limit is increased by further 2%, it will reach to the maximum DPL of 4% and traders shall be permitted throughout the day to trade within the maximum DPL of 4%.

Now we will move to the Non-Agri Commodities and below mentioned table represents the daily price limit for different Non-Agri Commodities:- 

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At present Gold is having base price limit of 3% (please refer above table). If the base DPL is breached, the relaxation will be allowed by 3% i.e. upto 6% without any cooling off period. If the DPL of 6% is also reached, then after a cooling off period of 15 minutes, the DPL will be further increased by 3% i.e. upto 9%. Currently the Maximum DPL is 9% and in case price movement in international markets is more than the maximum DPL, the same may be further executed in steps of 3% beyond the maximum permitted limit after the approval from the Regulator.