Stock market: Mumbai has designated Monday, May 20, a public holiday for voting, so the BSE and the National Stock Exchange will be closed.
Due to the Lok Sabha elections in India on Monday, May 20, the stock market exchanges BSE (previously Bombay Stock Exchange) and the National Stock Exchange (NSE) will be closed.
Mumbai, one of the areas participating in today’s fifth phase of voting, has designated a public holiday in honour of this occasion. The next trading day is Tuesday, May 21.
Both the BSE and NSE are headquartered in Mumbai. The Indian stock market’s trading hours are from 9:15 am to 3:30 pm from Monday to Friday.
In the fifth phase of the Lok Sabha elections, 49 constituencies spread across eight states and union territories (UTs) will be put to the vote. In addition to portions of Maharashtra, today’s elections will take place in a few Lok Sabha seats in Bihar, Jharkhand, Odisha, Uttar Pradesh, West Bengal, and the Union Territories of Jammu-Kashmir and Ladakh.
Nearly 700 candidates are set to compete in today’s polls, including prominent figures such as Congressmen Rahul Gandhi and Chirag Paswan, as well as Union Ministers Smriti Irani, Piyush Goyal, and Rajnath Singh.
When is the Next Trading holiday?
Today’s holiday marks the second holiday for the stock exchanges this month. Earlier, a trading holiday was declared on May 1 to commemorate Maharashtra Day, celebrating the formation of the state of Maharashtra from the division of the Bombay State on May 1, 1960.
According to the official calendar of the BSE, the next trading holiday will be observed on June 17 to mark Bakr Eid.
May 18 special Trading session
Benchmark equity indices Sensex and Nifty were little changed in the last session conducted on Saturday, a special trading session meant to test the exchanges’ preparedness during emergencies.
Two special sessions were organised from 9:15 am to 10 am from a primary site, and then from 11:30 am to 12:30 pm from a disaster recovery site.
Nifty 50 rose 0.16 per cent to 22,502 points, and the S&P BSE Sensex added 0.12 per cent to end at 74,005 points.
“Markets are taking a cautious stance and the situation may remain challenging till national election results are out on June 4,” said Ajit Mishra, vice president of research at Religare Broking.
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