This week, trading in the stock market will be shortened by 1 day due to the Holi festival celebration across India. On both BSE and NSE, the holiday for this festival is set for March 7th. However, the stock broker’s association has asked to shift the date of the holiday on account of Holi.
On March 7th, the trading will be closed for equity, equity derivative, and the Securities Lending and Borrowing (SLB) segment on both BSE and NSE. Also, Sebi has notified March 7th as the date for the Holi holiday on its website.
As per a PTI report, the stock brokers’ association ANMI has urged the government, exchanges, and Sebi to shift the holiday to March 8 from March 7.
As of now, there hasn’t been any change in markets for the Holi holiday. It will be keenly watched if the association’s plea will lead to the revision of the said festival’s holiday. But for now, markets will be closed on March 7th.
Generally, trading in markets is for five days which is the weekdays. And by default, markets are closed on Saturday and Sunday due to weekend holidays.
This week, markets will be closed for three days on March 7, March 11, and March 12th. While trading will be allowed on March 6th, 8th, 9th, and 10th.
Last week, the stock market ended on a perky note after a mega block deal from large foreign investors in Adani Group’s four companies. Sensex and Nifty 50 posted their best single-day gain of 2023 on Friday. Overall, in the week, Sensex gained by 1.3% and Nifty 50 jumped nearly 0.9%.
On Friday, Sensex closed at 59,808.97 up by 899.62 points or 1.53%. While Nifty 50 ended at 17,594.35 higher by 272.45 points or 1.57%.
In 2023, as per the Central Government department, the Holi festival fall on March 8th. While the Holika Dahan is set on March 7th.
Also, RBI has released the list of bank holidays for both March 7th and 8th in many regions of India.
Banks will be closed on March 7th in Belapur, Guwahati, Hyderabad – Telangana, Imphal, Jaipur, Jammu, Kolkata, Mumbai, Nagpur, Panaji, Srinagar, and Thiruvananthapuram. Meanwhile, banks will be closed in regions like Agartala Ahmedabad, Aizawl, Bhopal, Bhubaneswar, Chandigarh, Gangtok, Imphal, New Delhi, Patna, Raipur, Shillong, and Shimla.
In cities like Kolkata, Kanpur, Dehradun, and Ranchi — banks are closed on both March 7th and 8th.
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Download The Mint News App to get Daily Market Updates.