Indian Stock Exchanges Closed on April 17 for Ram Navami Holiday

Indian stock markets to remain closed on April 17, 2024, for Ram Navami festival. Partial closure of commodity derivatives segment on MCX. Investors to watch Infosys earnings after market reopens.

Geeta Pillai
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Indian Stock Exchanges Closed on April 17 for Ram Navami Holiday

Indian Stock Exchanges Closed on April 17 for Ram Navami Holiday

The Indian stock market, including the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), will remain closed on Wednesday, April 17, 2024, on account of Ram Navami, a significant Hindu festival celebrating the birth anniversary of Lord Rama. The Equity Segment, Equity Derivative Segment, SLB Segment, Currency Derivatives Segment, and Interest Rate Derivatives segments will all be shut for trading on this day.

The Commodity Derivative Segment on the Multi Commodity Exchange of India Limited (MCX) will undergo a partial closure, with trading suspended only for the morning session. Trading will resume in the evening session from 5 pm to 11:30/11:55 pm. Additionally, banks in several states, including Maharashtra, Gujarat, Madhya Pradesh, Chandigarh, Orissa, Andhra Pradesh, Rajasthan, Telangana, Uttar Pradesh, Jharkhand, Bihar, and Himachal Pradesh, will also remain closed on April 17. However, online banking services, such as mobile banking, net banking, and UPI, will be available for customers.

The next stock market holiday in India is on May 1st for Maharashtra Day. In May 2024, there will be two stock market holidays - on May 1 for Maharashtra Day and on May 20 due to the Lok Sabha election in Mumbai. The list of trading holidays in 2024 on the official websites of BSE and NSE includes April 17 as a holiday for Ram Navami.

On Tuesday, the Indian stock market indices, Sensex and Nifty 50, extended losses for the third consecutive session, declining over half a percent amid weak global cues. The fall in the Indian stock market is attributed to the Iran-Israel conflict, rising US dollar and US Treasury yields, and persistent selling by Foreign Institutional Investors (FIIs). The domestic market sustained its consolidation trend for the third consecutive day, amid apprehensions regarding geopolitical tensions and the drop in the probability of a rate cut in the short-term.

Why this matters: The closure of Indian stock exchanges on Ram Navami highlights the importance of religious festivals in the country's financial calendar. It also highlights the need for investors to stay informed about market holidays and plan their trading activities accordingly.

The BSE has listed 15 holidays for equity, equity derivatives, and SLB segments during the calendar year 2024. The domestic stock market will resume trading normally on Thursday, April 18, at 9:15 am, following a 15-minute pre-opening session starting at 9:00 am. Investors will be closely watching the quarterly earnings and management commentary from Infosys, scheduled to be released after market hours on Thursday.

Key Takeaways

  • Indian stock exchanges BSE and NSE will be closed on April 17, 2024, for Ram Navami.
  • MCX commodity derivatives will have a partial closure, with trading suspended in the morning session.
  • Banks in several states will also remain closed on April 17, but online banking services will be available.
  • The next stock market holidays in 2024 are May 1 for Maharashtra Day and May 20 for Lok Sabha elections.
  • The Indian stock market declined over 0.5% on Tuesday due to global cues and geopolitical tensions.