The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) On Wednesday, October 2, 2024 will be closed in observance of Gandhi Jayanti, a national holiday celebrating the birth anniversary of Mahatma Gandhi. This day is significant in India as it honors the legacy of Gandhi, who played a pivotal role in the country’s independence movement through non-violent resistance.
Main Points
What Investors Need to Know
The closure of the stock markets means that no trading activities will occur on this day. This includes all segments such as equity, derivatives, and securities lending and borrowing (SLB). The Multi Commodity Exchange (MCX) will also be closed for both trading sessions on October 2. Trading will resume as normal on Thursday, October 3, 2024.
Impact on Trading Activities
Investors should be aware that any pending orders will not be settled during this holiday. It is crucial for traders to plan their transactions accordingly to avoid any disruptions to their trading strategies. The stock market typically operates from 9:15 AM to 3:30 PM on regular trading days, with a pre-open session from 9:00 AM to 9:15 AM.
Shift in Trading Schedules
Due to the market closure on October 2, the expiry for Bank Nifty options has been moved to October 1, which is a deviation from the usual schedule. This adjustment is essential for traders who rely on these expirations for their strategies. The change underscores the importance of staying informed about market schedules, especially around holidays.
Remaining Holidays in 2024
For those looking ahead, here are the remaining stock market holidays for the year:
| Holiday | Date |
|---|---|
| Diwali Laxmi Puja | November 1 (Friday) |
| Guru Nanak Jayanti | November 15 (Friday) |
| Christmas | December 25 (Wednesday) |
These holidays provide opportunities for investors to reassess their portfolios without the pressure of market fluctuations during festive periods.
Recent Market Performance
In the lead-up to this holiday, Indian equity benchmarks faced some challenges. On Tuesday, October 1, 2024, the BSE Sensex fell by 33 points or 0.04%, closing at 84,266. Similarly, the NSE Nifty index dropped by 14 points or 0.05%, ending at 25,797. Key stocks contributing to this decline included major players like Reliance Industries and HDFC Bank.
Despite some fluctuations in mid- and small-cap shares reaching record highs, overall market sentiment remained cautious ahead of the holiday. Analysts noted that heavy call writing at 25,800 could act as a resistance level for Nifty in upcoming sessions.
Observing Gandhi Jayanti
Gandhi Jayanti is not only a national holiday but also recognized globally as the International Day of Non-Violence. Various events and tributes are organized across India, particularly at Gandhi’s memorial in New Delhi. The day serves as a reminder of Gandhi’s teachings and his enduring influence on peace and non-violent protest movements worldwide.
