Stock Market Holiday on Mahatma Gandhi Jayanti
On Wednesday, October 2, the stock markets in India will observe a holiday in honor of Mahatma Gandhi Jayanti. This means that traders will not be able to engage in buying or selling shares on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The markets are closed on various public holidays throughout the year, including Gandhi Jayanti, which is significant in recognizing the contributions of Mahatma Gandhi to India’s independence and the promotion of non-violent civil disobedience.
Details of the Holiday
According to the available data from the BSE, October 2 is recognized as a trading holiday across all its segments. This includes:
- Equity Segment
- Equity Derivatives Segment
- SLB Segment
- Currency Derivatives Segment
- NDS-RST
- Tri Party Repo
- Commodity Derivatives Segment
- Electronic Gold Receipts (EGR) Segment
Likewise, the NSE will also be closed for trading across all its segments on this day, which encompasses:
- Equities
- Mutual Funds
- Securities Lending and Borrowing Schemes
- Equity Derivatives
- Currency Derivatives
- Commodity Derivatives
- Interest Rate Derivatives
- Corporate Bonds
- New Debt Segments
- Negotiated Trade Reporting Platform
Additionally, a clearing holiday is also observed on Gandhi Jayanti, ensuring that all financial activities are paused in recognition of this important day.
Upcoming Market Holidays
As we look ahead, the stock markets will remain closed on several other notable occasions for the remainder of 2024. Apart from the regular Saturday and Sunday breaks, the BSE and NSE will close on:
| Date | Occasion |
|---|---|
| November 1 | Diwali-Lakshmi Puja |
| November 15 | Guru Nanak Jayanti |
| December 25 | Christmas |
It’s important to note that on Diwali, the stock markets reopen for a short session in the evening for Muhurat trading, a practice that marks the beginning of the new trading year in accordance with Hindu traditions.
Market Trends Leading Up to the Holiday
Leading into this holiday, the stock market has demonstrated a downward trend. On October 1, the BSE Sensex fell for the third consecutive day, ending at 84,266.29, a decrease of 33.49 points or 0.04%. Similarly, the NSE’s Nifty closed at 25,796.90 after a slight decline of 13.95 points or 0.05%.
Over the course of these three trading sessions, the Sensex has cumulatively lost about 1,570 points, equating to a drop of roughly 2%, while the Nifty has seen a decline of 419 points or 1.6%. Traders are advised to stay informed about these market dynamics as they prepare for the upcoming trading sessions following the holiday.
