Today, October 2, 2024, marks the commemoration of Gandhi Jayanti, a national holiday in India celebrating the birth of Mahatma Gandhi.
In observance of this event, the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will remain closed, halting all trading activities for the day. This closure extends to the equity, derivatives, and securities lending markets.
Impact on the Indian Stock Market
The Multi Commodity Exchange (MCX) will also be closed for both morning and evening trading sessions, joining the stock markets in observing the national holiday.
Mahatma Gandhi, known as the Father of the Nation, played a pivotal role in India’s independence movement through his principles of non-violence and civil disobedience. In honor of his legacy, the financial markets in India come to a halt on this day every year.
Recent Market Performance
In the final trading session before the holiday, both the BSE Sensex and the NSE Nifty50 experienced slight declines following a volatile trading day. Investors remained cautious ahead of global market movements, leading to a minor sell-off across various sectors.
The Sensex closed marginally lower at 65,450 points, while the Nifty50 ended the day at 19,500 points, a slight dip from the previous close.
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Regular Trading Hours and Upcoming Holidays
The regular trading hours for the Indian stock markets are from 9:15 am to 3:30 pm on weekdays, with a pre-open session from 9:00 am to 9:15 am.
Trading is closed on weekends and during scheduled market holidays.
Upcoming market holidays in 2024 include:
- Diwali: November 1 (Friday)
- Guru Nanak Jayanti: November 15 (Friday)
- Christmas: December 25 (Wednesday)
For the Multi Commodity Exchange (MCX), the holiday schedule for the remainder of the year includes:
- Diwali: November 1 (Friday) – Morning session closed
- Guru Nanak Jayanti: November 15 (Friday) – Morning session closed
- Christmas: December 25 (Wednesday) – All-day closed
Global Market Impact: China’s Extended Break
In addition to India, Chinese stock markets are also closed this week as the country celebrates National Day, a public holiday that runs from October 1 to October 7.
This extended holiday period in China is known to affect global market liquidity, particularly in Asian markets. The Hong Kong Stock Exchange was also shut down on October 1, 2024, in observance of National Day.
Special Diwali Trading Session
Indian stock markets will conduct a special Muhurat trading session on November 1, 2024, to mark the beginning of the new Hindu calendar year, Samvat 2081. The Muhurat trading session is considered an auspicious time to invest, with traders and investors participating in symbolic trades to bring prosperity in the upcoming year.
The specific timings for the session will be announced closer to the date.
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Disclaimer
The information provided in this article is for educational and informational purposes only. The stock market involves risks, and the performance of any stock is subject to market conditions and individual financial decisions. Readers should conduct their own research or consult with a financial advisor before making investment decisions. We are not responsible for any losses that may arise from decisions based on this content.
