BSE, NSE to remain open today, non-business day for mutual funds1 min read . Updated: 01 Feb 2020, 08:23 AM IST
- Stock and commodity exchanges will remain open
- No NAV will be declared for equity mutual fund schemes today
Both the BSE and NSE, which follow a 5-day week calendar, have issued notices saying that they will hold special trading session today, on Budget day. Today's session will be a full-fledged one and exchanges will remain open for regular trading hours. Trading timings would be as usual starting from 9.15 am to 3.30 pm and the pre-open trade would be held during 9 am to 9.15 am.
Zerodha in a message to investors also said: "Stocks bought on Friday, Jan 31, 2020, will not be available for selling on Saturday, Feb 1, 2020, owing to a settlement holiday on Saturday."
But mutual fund houses have decided to observe a non-business day. No NAV will be declared for equity schemes on February 1.
India's biggest stock broker Zerodha in a message to investors said: "Mutual fund houses are observing a non-business day on February 1, 2020, while the stock and commodity exchanges will remain open. All orders placed on Coin will be processed on Monday, February 3, 2020. No NAV will be declared for equity schemes on February 1, 2020."
Stock exchange BSE in a circular said: "Mutual Funds are observing Non-business day/non-transaction day on the Union Budget Day on Saturday, February 01, 2020 for all schemes. Therefore exchange shall also observe non-business day for mutual fund schemes on BSE StAR MF platform on the day of presentation of the Union Budget on Saturday, February 01, 2020."