• Wed. Feb 28th, 2024

Stock market today: NSE, BSE to remain closed for Ayodhya Ram Mandir ‘Pran Pratishtha’ ceremony

Stock market today: In the wake of ‘Pran Pratishtha’ in Ayodhya Ram Mandir, the State Government of Maharashtra has declared a public holiday on Monday, 22nd January 2024. Therefore, trading activities at the Bombay Stock Exchange (BSE) and National Exchange (NSE) will remain closed today. So, 22nd January 2024 is a stock market holiday, which the Indian exchange has announced after partial modification in their circular dated December 26, 2023.

Therefore, there will be no action in the Equity Segment, Equity Derivative Segment, and SLB Segment today. Trading at Currency Derivatives Segments will also remain suspended at the Indian stock market today for the Ayodhya Ram Mandir ‘Pran Prathshtha’ ceremony. 

Also Read: Week Ahead: Q3 results, Ayodhya event, F&O expiry, global cues among key market triggers this week

In the Commodity Derivatives Segment and Electronic Gold Receipts (EGR) Segment, trading will remain suspended in the morning session i.e. from 9:00 AM to 5:00 PM but it will resume in the evening session at 5:00 PM. This means, there will be no action on MCX (Multi Commodity Exchange) and NCDEX (National Commodity Exchange) from morning 9:00 AM to 5:00 PM.

The NSE declared the stock market holiday on Monday by issuing a press release saying, “In partial modification to Exchange circular reference no. 59917 dated December 26, 2023, the Exchange hereby notifies Monday, January 22, 2024, as a trading holiday on account of a public holiday declared under Section 25 of the Negotiable Instruments Act, 1881.”

Informing about the public holiday in Maharashtra on 22nd January 2024, the Reserve Bank of India (RBI) issued a statement saying, “Government of Maharashtra has declared January 22, 2024 as a public holiday under Section 25 of the Negotiable Instruments Act, 1881. Accordingly, and in modification of the press release 2023-2024/1710 issued earlier today on “Market Trading Hours on January 22, 2024″, there will be no transactions and settlements in Government securities (primary and secondary), foreign exchange, money markets, and Rupee Interest Rate Derivatives on January 22, 2024 (Monday). Settlement of all outstanding transactions will accordingly get postponed to the next working day i.e., January 23, 2024 (Tuesday).”

Hence, this week will be a truncated week from the stock market perspective. As per the list of stock market holidays in 2024, the Indian stock market will remain closed on 26th January 2024 i.e. on Friday this week for the Republic Day celebration across the nation. This means trading activities in the Indian stock market will remain suspended on Monday and Friday this week. In other words, there will be just three trade sessions this week (from Tuesday to Thursday).

Ayodhya Ram Mandir Pran Pratishtha time

The sacred ceremony of Ayodhya Ram Mandir Pran Pratishtha is scheduled to take place today in between 12.15 PM to 12.45 PM.

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Published: 22 Jan 2024, 07:10 AM IST

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