Stock Market Holiday: BSE, NSE to remain closed on October 2; key updates
Source: Business Standard
Stock Market Holiday Alert: Indian bourses – National Stock Exchange (NSE) & Bombay Stock Exchange (BSE) – will remain closed on Wednesday, October 2, 2024, in observance of Gandhi Jayanti.
This national holiday celebrates the birth of Mohandas Karamchand Gandhi, a pivotal figure known for India’s independence, coupled with his principles of nonviolence and civil disobedience.
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All trading activities—including equity, equity derivatives, and securities lending and borrowing (SLB) segments—will be halted.
The Multi Commodity Exchange (MCX) will also observe the holiday, closing for both trading sessions on October 2.
That said, the exchanges will resume regular operations on Thursday, October 3, allowing investors to re-enter the market after a day of reflection.
Stock market trading hours
The stock markets are closed on weekends, specifically on Saturdays and Sundays.
Market Recap
On Monday, September 30, benchmark equity indices BSE Sensex and NSE Nifty 50 closed in the negative, with both witnessing declines of over 1 per cent. The drop was primarily driven by major profit booking across various sectors.
The 30-share Sensex fell by 1,272.07 points, or 1.49 per cent, finishing at 84,299.78, after hitting an intra-day low of 84,257.14. Similarly, the Nifty 50 ended down by 368.10 points, or 1.41 per cent, closing at 25,810.85.
The day favoured the bears, as 41 out of the 50 Nifty 50 constituents closed lower. Notable laggards included Hero MotoCorp, RIL, Axis Bank, and Bharat Electronics, which saw declines of up to 4.03 per cent.
In the BSE arena, 25 of the 30 Sensex stocks ended in the red, with Axis Bank, RIL, ICICI Bank, and Mahindra & Mahindra being the hardest hit, falling by as much as 3.15 per cent.
Broader market indices also saw declines, with the Nifty Midcap 100 and Nifty Smallcap 100 down by 0.38 per cent and 0.32 per cent, respectively. The fear gauge, India VIX, surged 6.89 per cent to 12.79 points.
Year-to-date, the BSE Sensex has gained over 16 per cent, while the Nifty 50 has risen approximately 18 per cent.
Upcoming holidays
Following Gandhi Jayanti, the Indian stock market will remain open for the rest of October, with the next scheduled holiday on November 1 for Diwali. This will be followed by a special muhurat trading session on Diwali, though the timings for this event are yet to be announced.
Additionally, several holidays will fall on weekends throughout 2024, including Dussehra on October 12.
Stock market holiday schedule for the rest of the year include Diwali Laxmi Pujan (Friday, November 1), Gurunanak Jayanti (Friday, November 15) and Christmas (Wednesday, December 25).
First Published: Oct 01 2024 | 8:30 AM IST
