Stock Market Holidays 2024: The nine-day annual Hindu festival, Navratri has commenced from October 3, and will continue till the next week. Although Navratri is most celebrated two or four times in India, however, the most popular one is the Sharada Navaratri which is celebrated from September to October. That being said, banks will be closed during the last date of Navratri, renowned as Dussehra. However, when is the day of Dussehra falling, October 12 or October 13? And what about the stock market, will it open on either of these days?
Navratri 2024:
The nine-day festival includes celebrations and worshipping of nine goddesses during the period, coupled with chanting of the scriptures of Hinduism and enacting of the story among others.
Hindu devotees often celebrate Navaratri by fasting. On the final day, called Vijayadashami, the statues are either immersed in a water body such as a river or ocean, or the statue symbolising evil is burnt with fireworks, marking the destruction of evil, as per Wikipedia.
The most popular Navratri is the one celebrated during the autumn equinox, and hence the current nine-day festival. The other would be Vasanta Navaratri which is celebrated during the spring equinox between March - April.
Dussehra aka Vijayadashami is the last day of the festival, marking the victory of Lord Rama against the demon king Ravana, amidst the rescue of his wife Sita.
In general terms, Dussehra is celebrated on the tenth day of Ashvina, which is the seventh month of the Hindu calendar.
Since Dashami Tithi is expected to commence from 10.58 am on October 12, 2024, and will end at 09:08 AM on October 13, 2024, the last date of Navratri will fall on October 12th hence.
Banks will be closed for two reasons on October 12 and October 13. Firstly, October 12 is the second Saturday of the month, which is a default holiday allotted every month. Secondly, Dussehra would be the reason. Meanwhile, banks will be closed on October 13 due to the Sunday holiday.
What About the Stock Market?
Indian stock market will be closed on both days, October 12 and October 13. This is because the stock market is technically closed for trading on weekends.
Hence, trading in equity, equity derivative, SLB, currency, currency derivative and commodities market will be closed on BSE and NSE on October 12 and October 13.
In October 2024, overall, the stock market is going to be closed for nine days, while there are 22 trading sessions. The first holiday in October for BSE and NSE is scheduled for October 2, which will also be its only special holiday of the month. The rest of them are at weekends.
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