Share Market Holiday: NSE, BSE closed today for Mumbai elections?

The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will have a notable closure on May 20th due to the fifth voting phase for the Lok Sabha Election 2024 in Mumbai. This will be the second holiday of the month, aligning with the seven-phase election schedule as all six seats in the city are scheduled for polling.

Apart from May 20, the market was not open on May 1 this month in observance of Maharashtra Day, which marks the formation of the state of Maharashtra on May 1, 1960, subsequent to the linguistic reorganization of Indian states. The Lok Sabha elections in Maharashtra will be conducted in five phases, with the first four scheduled for April 19, April 26, May 7, and May 13. The last phase is set to happen on May 20, with vote counting on June 4.

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Due to the fifth phase of the general election, banks in Maharashtra will be closed on May 20. This phase covers voting in 13 out of the state’s 48 Lok Sabha constituencies, which include Dhule, Dindori, Nashik, Kalyan, Palghar, Bhiwandi, Thane, Mumbai North, Mumbai North-West, Mumbai North-East, Mumbai North-Central, Mumbai South-Central, and Mumbai South.

Share Market Holiday

The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will be shut down today due to Lok Sabha elections in Mumbai. According to the stock market holiday schedule, all segments including SLB, derivative, and equity, will not operate today. Nonetheless, the Multi-Commodity Exchange (MCX) will commence trading from 5:00 PM to 11:30/11:55 PM but will remain closed for the morning session.

Will banks also be closed today owing to Lok Sabha elections in Mumbai?

Polling in Bihar, Uttar Pradesh, West Bengal, and Maharashtra is set for May 20. Four out of the seven Lok Sabha election phases have already concluded on April 19, April 26, May 7, and May 13. Additionally, banks in Belapur and Mumbai will be closed, along with some educational institutions. The fifth phase of Lok Sabha Elections 2024 will cover 49 Lok Sabha seats across six states and two Union territories (UTs).

Upcoming Stock Market Holidays

The stock market holiday calendar indicates that in 2024, the markets will not operate on June 17 (Bakri Id), July 17 (Muharram), August 15 (Independence Day), October 2 (Mahatma Gandhi), November 1 (Diwali), November 15 (Guru Nanak Jayanti), and December 25 (Christmas).

Here’s a list of Market Holidays in 2024

May 20 – General Elections

June 17- Bakrid

July 17- Muharram

August 15- Independence Day

October 2- Gandhi Jayanti

November 1- Diwali

November 15- Guru Nanak Jayanti

December 25- Christmas

Stock Market Update

The Sensex and Nifty 50, key indicators of the domestic stock market, ended Saturday’s trading session on a positive note, continuing their recent three-day rally driven by new foreign investments and positive global cues. All sectoral indices closed in the green, with small and mid-cap indices outperforming the benchmarks. The 30-share BSE Sensex closed at 74,005.94 during the second special trading session, up by 88.91 points or 0.12%. The NSE Nifty 50 rose to 22,502.00, an increase of 35.90 points or 0.16%. In the broader market, the Nifty Midcap 100 increased by 0.51%, while the Nifty SmallCap 100 surged by 0.82%. India VIX, the fear gauge index, saw a 3.67% rise in closure on Saturday. The BSE and NSE announced a specific trading session in the equities and equity derivative divisions set for May 18 to assess their readiness in handling significant outages or interruptions at the primary site.

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