BSE, NSE Closed on May 20 for Mumbai Lok Sabha Elections
On April 8, the National Stock Exchange of India (NSE) announced that May 20 would be a trading holiday in Mumbai due to the general elections. This decision was made in line with the Election Commission’s schedule for Lok Sabha elections in Maharashtra, which will be held in five phases on April 19, April 26, May 7, May 13, and May 20.
Additionally, the NSE also stated that the maturity date for the Nifty Midcap Select options contract would be shifted to May 17 instead of May 20.
Voting for Lok Sabha seats in several constituencies including Dhule, Dindori, Nashik, Bhiwandi, Kalyan, Thane, and various areas of Mumbai is scheduled for May 20.
Furthermore elections, the market will also be closed on May 1 for Maharashtra Day, and preceding that, it will remain closed for trading on April 11 for Ramzan Id and on April 17 for Ram Navami.
It’s worth noting that both in 2014 and 2019, Indian stock exchanges like BSE and NSE declared trading holidays on voting days. Forex and money markets were also closed during those years.
On April 8, India’s stock market indices, the Sensex and the Nifty 50, closed at new record highs. The Sensex opened at 74,555.44 and closed at 74,742.50, gaining 494 points or 0.67%. Similarly, the Nifty 50 opened at 22,578.35 and closed at 22,666.30, marking a gain of 153 points or 0.68%. Both indices saw a positive performance with several stocks closing higher during the session.
Investors and traders are advised to take note of these trading holidays and schedule their activities accordingly. The decision to close the market on May 20 reflects the importance of facilitating the electoral process without disruptions. Additionally, the record highs observed on April 8 signal optimism in the market, possibly influenced by positive global cues and a decrease in crude oil prices. Overall, it’s essential for market participants to stay informed about these developments to make informed decisions regarding their investments and trading strategies.
