The Indian Stock Market will remain closed on May 20, 2024 due to the Lok Sabha Elections 2024 in Mumbai. The trading holiday has been notified by the National Stock Exchange of India (NSE).
New Delhi: The Lok Sabha Elections 2024 are about to begin in a few days; these polls will be conducted in a total of seven phases, the first one starting from April 19, 2024. The voting for the upcoming polls in Mumbai will be held on May 20, 2024 and on that date, there will be a trading holiday, i.e. the Indian Stock Market will remain closed due to the polling. The holiday has been announced by the National Stock Exchange of India (NSE). The following has been informed by the means of a circular by NSE. Know all about it…
Indian Stock Market Closed On This Date, NSE Announces Trade Holiday
As mentioned earlier, the Indian Stock Market will remain closed on May 20, 2024 which means there is a trading holiday and it has been announced by the National Stock Exchange of India (NSE). The official circular by NSE reads, “The exchange notifies Monday, May 20, 2024 as a trading holiday on account of Parliamentary Elections in Mumbai. Members are requested to take note of the same.” The decision has been taken to ensure that members of the trading community can actively participate in the electoral process without any disruption.
The voting for the General election in India to start from April 19 and spread across seven phases ending on June 1. The election in the Maharashtra will be held in five phases and the voting in the Mumbai is scheduled on May 20, so the market will be closed on that day. The Election Commission of India on March 16 announced the schedule for the 2024 Lok Sabha elections. The counting of votes will be on June 4.
In another news, Indian stock indices started Monday’s trade in the green and hit their fresh highs, extending positive momentum from gains it recorded in the first week of the new financial year that started on April 1. At 9.23 am, Sensex was at 74,487.41 points, up 239.19 points or 0.32 per cent, while Nifty was at 22,571.60 points, up 57.90 points or 0.26 per cent. Among the widely-tracked Nifty 50 stocks, 40 advanced and the rest 10 slipped at the time of the filing of this report, NSE data showed.
(Inputs from ANI)