Stock Market Holidays 2024: Is Trading On BSE, NSE Closed From September 16-18? Find Out!

There has been a change in public and bank holidays in India, especially the home ground city of BSE and NSE aka Mumbai, Maharashtra. Bank branches, schools and government offices in various states will be closed between September 16, September 17, and September 18, varying from city to city. However, does that mean the Indian stock market will also be closed on these three days?

Banks and schools in various cities will be closed on September 16 due to Milad-un-Nabi or Id-e Milad (Birthday of Prophet Mohammad) (bara vafat). Banks will be closed due to Pang-Lhabsol/Id-E-Milad and Visarjan of Lord Ganesha on September 17.

Further, the Maharashtra government declared September 18 as a public holiday under Section 25 of the Negotiable Instruments Act, of 1881, shifting the holiday of Eid-E-Milad from September 16 to September 18.

RBI has also announced that there will be no transactions and settlements in Government securities, foreign exchange, money markets and rupee interest rate derivatives on September 18, 2024. Settlement of all outstanding transactions due on September 18, 2024 (Wednesday) will get postponed to the next working day, i.e., September 19, 2024 (Thursday).

However, this will not be the case with the stock market. Trading in equity, equity derivatives, commodities, currency, currency derivatives and SLB segment will continue on September 16, September 17, and September 18.

Both BSE and NSE have not made any changes in the holiday list for September 2024, despite the change in public holidays from September 16 to September 17 in Maharashtra.

BSE and NSE will continue to be operational throughout the weekdays of September 2024, with default holidays on Saturdays and Sundays.

What To Expect In The Trading Week From September 16-20:

Vinod Nair, Head of Research, at Geojit Financial Services, said, "Indian markets overcame last week's negative sentiments stirred by SEBI's deadline over FII's disclosure norms and recession fears in the US. Initial cautiousness among market participants was also influenced by a slew of macroeconomic data points like US inflation & jobless claims, domestic inflation, and manufacturing data. Further, comments from the BoJ of a potential rate hike if inflation remains elevated also led to caution in the air."

Nair added, that despite volatility, DIIs and FIIs flows remained positive as a strong monsoon, and an expectation of an uptick in demand during the festive season drove investor sentiment. US inflation eased marginally, and the job market continued to see a cooling off. Indian inflation largely remained steady, while July IIP saw an uptick. The market hit a new high as the rate-cut optimism globally (ECB & US Fed) has provided a positive impetus across the global markets.

Going ahead, Nair said, "market focus will be on the upcoming FOMC meeting next week, while domestic market direction will also be influenced by domestic corporate earnings, which are forecasted to improve in Q2 on a QoQ basis."

Last week, during the trading session from September 9-13, Sensex skyrocketed by 1,712.02 points or 2.11%, while Nifty 50 surged by 603.35 points or 2.44%. The benchmarks also touched new record highs during the last week.