The Indian financial markets are set to observe a holiday on Wednesday, October 2, 2024, as the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), and the Multi Commodity Exchange (MCX) will remain closed in honour of Gandhi Jayanti. This national holiday commemorates the birth of Mahatma Gandhi, a key figure in India’s independence movement, who was renowned worldwide for his principles of nonviolence and peaceful resistance.

On this day, trading activity across all segments will be at a standstill. This includes:
Equity Trading: No transactions in shares and securities.
Derivatives Trading: No futures and options trading will take place.
Securities Lending and Borrowing Market: All activities will be paused for the day.
Additionally, the MCX, which typically conducts trading in two sessions (the morning and the evening), will be completely closed for both sessions.

Recent Market Performance
On the trading day prior to the holiday, Tuesday, October 1, the Indian stock market exhibited a stable but slightly downward trend. The BSE Sensex and NSE Nifty50 both ended marginally lower after a day of steady trading.

Trading Hours and Schedule
Indian stock markets usually operate from Monday to Friday with regular trading hours from 9:15 am to 3:30 pm. A pre-open session also takes place from 9:00 AM to 9:15 am. The markets remain closed on weekends and during these officially designated holidays.

Upcoming Market Holidays in 2024
For investors looking ahead, the NSE and BSE will observe additional holidays in the coming months, halting trading on the following days:
Diwali: November 1 (Friday)
Guru Nanak Jayanti: November 15 (Friday)
Christmas: December 25 (Wednesday)

As for the Multi Commodity Exchange (MCX), here’s the breakdown of their holiday schedule:
Gandhi Jayanti: October 2 (Wednesday) – Closed all-day
Diwali: November 1 (Friday) – Morning session closed
Guru Nanak Jayanti: November 15 (Friday) – Morning session closed
Christmas: December 25 (Wednesday) – Closed all-day

International Markets Holiday
China’s stock markets are currently observing an extended holiday from October 1 to October 7, celebrating China National Day. During this week-long closure, no trading activities will occur in China. Additionally, Hong Kong’s stock exchange is also closed on October 1, coinciding with China’s National Day celebrations.

Special Diwali Trading Session: Muhurat Trading on November 1
A tradition in the Indian financial market is the Muhurat trading session, which will take place on November 1 to mark Diwali and the beginning of the Hindu New Year, Samvat 2081. This session, typically held in the evening, is considered an auspicious time for trading, with many investors participating as a ritual believed to bring good fortune in the year ahead.

Markets Reopen on October 3
Trading will resume as usual across the NSE, BSE, and MCX on Thursday, October 3, following the holiday break. Investors can expect a regular trading session, with market participants returning to assess the impact of both domestic and international events during the one-day hiatus.

Story first published: Wednesday, October 2, 2024, 7:53 [IST]