Bank & Stock Market Holiday On July 17, Muharram 2024: What Is Opened And Closed Today?

Banks and stock markets are closed on July 17 due to the occasion of Muharram across the regions of India. This day is also said to be the first month of the Islamic calendar. However, not everything is closed, and there are some bank branches still open and operational in several cities.

Stock Market Holiday:

Trading is closed for equity, equity derivatives, and SLB segment on July 17th. Trading is also not available for commodities at MCX and in currency and currency derivates at the forex market.

Further, settlements via NSDL and CDSL are also closed.

In the previous session, stock market rose for third consecutive session. The Nifty closed above 24,600 for the first time, adding 26 points to end at 24,613, while the Sensex rose 52 points, finishing at 80,717.

Stock market will resume trading on Thursday. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services said, "With the nearing of a major event - Union Budget, we expect anxiety to increase in the market. Along with this Q1FY25 earnings results of prominent companies will drive the stock-specific action. On Wednesday, Indian Markets will remain closed on account of Moharram."

Bank Holidays:

The Muharram/Ashoora/U Tirot Sing Day holiday falls under the category of Holiday under the Negotiable Instruments Act of RBI. Hence, not all cities in India will have bank holidays.

As per RBI notification, banks will be closed in cities such as Agartala, Aizawl, Belapur, Bhopal, Chennai, Andhra Pradesh, Telangana, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Raipur, Ranchi, Shillong, Shimla, and Srinagar.

While banks are opened in cities such as Ahmedabad, Bhubaneswar, Chandigarh, Dehradun, Gangtok, Guwahati, Imphal, Itanagar, Kochi, Kohima, Panaji, and Thiruvananthapuram.

Also, ATM services will continue to be open 24X7 across India. These services include withdrawing cash, checking balances, or printing statements. Also, some ATM services outside banks offer options to transfer money, cash deposits in in both card-based and card-less modes, and even apply for loans.

After Muharram, the last special holiday of July month will be on July 20th for Kharchi Puja, however, this will be only celebrated in Agartala.