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Public Holiday: Is Indian Stock Market Closed Tomorrow for Lok Sabha Elections?

Public Holiday: Is Indian Stock Market Closed Tomorrow for Lok Sabha Elections?

 


The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will observe a major shutdown on May 20. This is due to the fifth phase of voting for the 2024 Lok Sabha election in Mumbai, marking the second public holiday of the month. This closure is in line with the seven-phase elections, as all six seats in the city are set for a poll.

Apart from May 20, the market was closed on May 1 this month due to Maharashtra Day, commemorating the creation of the state of Maharashtra on May 1, 1960. This followed the linguistic reorganization of Indian states.

Also read: Stocks to buy or sell: GAIL in Ashok Leyland Sumeet Bagadia recommends three stocks for May 21

The Lok Sabha elections in Maharashtra are structured in five phases, with the first four taking place on April 19, April 26, May 7 and May 13 respectively. The final phase is scheduled for May 20, followed by the counting of votes on June 4.

In light of the fifth phase of the general elections, banks in Maharashtra will remain closed on May 20. This phase includes voting in 13 of the 48 Lok Sabha constituencies in the state, including Dhule, Dindori, Nashik, Kalyan, Palghar, Bhiwandi, Thane. , Mumbai North, Mumbai North West, Mumbai North East, Mumbai North Central, Mumbai South Central and Mumbai South.

Here is a list of public 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, which are key indicators of the domestic stock market, concluded Saturday's trading session with bullish momentum. This extends their recent three-day rally, supported by new foreign investment and favorable global signals. All sectoral indices ended in positive territory, with small and mid-cap indices outperforming benchmark indices.

Also read: ICICI Securities is bullish on these 2 Tata group stocks, with an increase of up to 27%.

During the second special trading session, the 30-share BSE Sensex concluded at 74,005.94, up 88.91 points or 0.12 per cent. The NSE Nifty 50 climbed to 22,502.00, showing a rise of 35.90 points, or 0.16 per cent. Across the market, the Nifty Midcap 100 saw a rise of 0.51%, while the Nifty SmallCap 100 jumped 0.82%. On Saturday, the fear gauge, India VIX, recorded a closing gain of 3.67%.

On May 7, the BSE and NSE revealed their plans for a special trading session in the equity and equity derivatives divisions scheduled for May 18. This session assesses their readiness to handle outages or significant interruptions at the primary site.

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Published: May 19, 2024, 1:54 p.m. IST

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