This month, on May 1, the Stock Market was closed except on May 20 owing to Maharashtra Day, which marks the anniversary of the state of Maharashtra’s creation on May 1, 1960.
On May 20, there will be a notable closure of both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). This is because the second vacation of the month falls on the fifth voting phase of the Lok Sabha Election 2024 in Mumbai. Since all six of the city’s seats are scheduled for polling, the shutdown is consistent with the seven-phase election.
This month, on May 1, the market was closed except on May 20 owing to Maharashtra Day, which marks the anniversary of the state of Maharashtra’s creation on May 1, 1960. This came after the Indian states were reorganised linguistically.
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The Maharashtra Lok Sabha elections are divided into five parts. The dates of the first four phases are April 19, April 26, May 7, and May 13, respectively. The last stage is scheduled for May 20. On June 4, the votes will be counted.
Maharashtra banks will be closed on May 20 due to the general election’s fifth phase. Thirteen of the state’s forty-eight Lok Sabha constituencies—Dhule, Dindori, Nashik, Kalyan, Palghar, Bhiwandi, Thane, Mumbai North, Mumbai North-West, Mumbai North-East, Mumbai North-Central, Mumbai South-Central, and Mumbai South—will be voting in this phase.
Here’s a list of market 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 domestic stock market indicators, concluded Saturday’s trading session with upward momentum. This extends their recent three-day rally, which was buoyed by fresh foreign investments and favourable global signals. Every sectoral index finished in positive territory, with small and mid-cap indices surpassing the benchmarks in performance.
The 30-share BSE Sensex finished at 74,005.94 during the second special trading session, up 88.91 points, or 0.12%. The NSE Nifty 50 increased by 35.90 points, or 0.16%, to 22,502.00. The Nifty SmallCap 100 increased by 0.82%, while the Nifty Midcap 100 experienced a 0.51% increase in the overall market. The India VIX, a measure of anxiety, had a 3.67% surge in closure on Saturday.
Plans for a specific trading session in the stocks and equity derivative divisions scheduled on May 18 were revealed by the BSE and NSE on May 7. This session assesses their readiness to handle significant disruptions or outages at the main site.
