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Business News/ Markets / Stock Markets/  NSE, BSE shut today on account of Lok Sabha Elections
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NSE, BSE shut today on account of Lok Sabha Elections

NSE and BSE closed on May 20 due to Lok Sabha elections in Mumbai; MCX open from 17:00 to 23:30/23:55; Banks in Belapur and Mumbai also closed; Stock market to resume on May 21 at 9:15 IST after pre-opening session at 9:00 IST.

The share sales sailed through despite choppy stock markets this week. The BSE Sensex is down 3% since Monday.mint (MINT_PRINT)Premium
The share sales sailed through despite choppy stock markets this week. The BSE Sensex is down 3% since Monday.mint (MINT_PRINT)

The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), will be closed today, Monday, May 20, according to with the BSE's market holiday calendar, due to the Lok Sabha elections in Mumbai. All of the sections, including the SLB, derivative, and equity sections, will  be closed today. 

The Multi-Commodity Exchange (MCX) will be open to trade from 17:00 to 23:30/23:55 in the evening, but it will stay closed from 9:00 IST to 17:00 IST in the morning.

Owing to today's Lok Sabha elections, the banks in Belapur and Mumbai will also be closed. Furthermore, some colleges and schools will be closed today.

Also Read: Lok Sabha Elections 2024: Polling in Mumbai today! Know what's closed, what's open

On Tuesday, May 21 at 9:15 IST, the stock market will resume regular trading, but, following a fifteen-minute pre-opening session that begins at 9:00 IST, according per the BSE and NSE websites.

The fifth phase (Phase 5) of the general elections for 2024 is slated to take place on Monday, May 20, and voting will take place in as many as 49 Lok Sabha seats, which are spread across six states and two Union territories (UTs). 

Also Read: Week Ahead: US Fed chair speech, Q4 results, FII activity, global cues among key market triggers this week

Phase 5 states that are scheduled to vote are Bihar, Uttar Pradesh, West Bengal, and Maharashtra. After voting in four of the seven phases of the Lok Sabha elections—on April 19, April 26, May 7, and May 13—phase 5 voting will take place.

In addition, in 2024 the markets will be closed on June 17 for Bakri Id, July 17 for Muharram, August 15 for Independence Day, October 2 for Mahatma Gandhi, November 1 for Diwali, November 15 for Gurunanak Jayanti, and December 25 for Christmas, aside from the Mumbai Elections on May 20.

Also Read: Lok Sabha elections phase 5 today: From top candidates to states in fray, everything you need to know

Any of the above holidays may be changed by the exchanges; a different circular will be released beforehand.

As exchanges evaluated how their systems would react in the event of unforeseen occurrences, the domestic benchmark indices traded in two special live trading sessions on Saturday, May 18, first from a primary site from 9:15 IST to 10 IST and then from a so-called disaster recovery site from 11:30 IST to 12:30 IST.

Also Read: Stock market holiday: Is Indian share market shut today for Lok Sabha elections?

Following a significant trading outage on February 24, 2021, caused by a technical issue in which the stock exchanges failed to transfer to the disaster recovery site, the capital markets regulator, Securities and Exchange Board of India (SEBI) had closely examined the NSE and BSE.

Domestic equity benchmark indices, the Sensex and Nifty 50, ended the trading day on Saturday with gains continuing their recent three-day surge on the back of new inflows of foreign funds and amid positive global cues. 

All sectoral indices closed in green, while the small and mid-cap indices outperformed the benchmark indices.

Also Read: Stock market today: Sensex, Nifty 50 end in green in the second special trading session; all sectoral indices shine

In the second special trading session trading , the 30-share BSE Sensex ended at 74,005.94, up 88.91 points, or 0.12%. The NSE Nifty 50 rose to 22,502.00, a rise of 35.90 points, or 0.16%.

The key domestic and global economic data will determine the market's outlook, according to Arvinder Singh Nanda, Senior Vice President of Master Capital Services Ltd. The data provided includes the Manufacturing and Services PMI for India, the UK CPI Inflation Data, the Initial Jobless Claims data for the US, the S&P Global Manufacturing PMI, and the Q4 corporate results.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

 

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Published: 20 May 2024, 06:39 AM IST
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