Stock Market Holiday: Indian stock exchanges National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will be closed for one day in June 2024. Both the exchanges will be closed on Monday, June 17, due to Bakri Eid.
In May, Indian stock exchanges were closed for two days. Both exchanges were closed on May 1 to mark Maharashtra Day.
In addition to May 1, the BSE and NSE were also closed on May 20 due to the general elections for all six Lok Sabha seats in Mumbai in the fifth round of the seven-phase election process.
Also Read: Stock Market Holidays in May 2024: NSE, BSE Closed on These Days, Check List Here
Voting for the seventh and final phase of the 2024 Indian Lok Sabha elections began today, Saturday, June 1. Candidates for 57 seats across seven states and one union territory, including Prime Minister Narendra Modi’s, will be selected.
Voting in the seventh phase is taking place today in the following states: Punjab (all 13 seats), Uttar Pradesh (13 seats), West Bengal (9 seats), Bihar (8 seats), Himachal Pradesh (all 4 seats), Jharkhand (3 seats), Odisha (6 seats) and one seat in the Union Territory of Chandigarh.
Also read: 7th Lok Sabha elections live updates: Voting begins in 57 seats, PM Modi and Kangana Ranaut in contest
Odisha will also hold elections for 42 seats in the state assembly at the same time as the Lok Sabha elections. The votes will be counted on June 4.
Here is the list of stock market holidays for 2024 –
June 17, 2024 – Bakrid
17 July 2024 – Muharram
August 15, 2024 – Independence Day
2 October 2024 – Gandhi Day
November 1, 2024 – Diwali
15 November 2024 – Guru Nanak Jayanti
December 25, 2024 – Christmas
Stock Market Updates
On Friday, May 31, Indian stock market indices Sensex and Nifty 50 ended the last five sessions with modest gains, putting an end to the downward trend, led by gains in major heavyweights such as HDFC Bank, ICICI Bank, L&T and Reliance.
Concerns surrounding the 2024 Lok Sabha elections have been exerting pressure on the domestic equity market in recent times. Market experts said market sentiment has been affected recently by large capital outflows by foreign institutional investors (FIIs), conflicting global developments, dwindling interest rate cut expectations and concerns over geopolitical tensions.
Also read: Stock market today: Sensex, Nifty 50 gain after 5-day decline; Eyes on exit poll results for 2024 Lok Sabha elections
Modest buying interest was seen in the domestic market on Friday as the benchmark stock index and the number two small and mid-cap index ended the day with gains.
Fifteen stocks rose, helping the Sensex index close at 73,961.31, up 76 points or 0.10 percent, while 26 stocks led the Nifty 50 index to close at 22,530.70, up 42 points or 0.19 percent.
“The stock market has remained volatile with a downward trend all this week as investors waited to gauge what the outcome of the national elections would be. As vote counting begins early next week, markets are likely to remain on edge until the final results are announced and the market regains a clearer direction. Economic fundamentals remain strong and the long-term upward trend has remained largely intact, however, the relatively expensive nature of the market recently could lead to some profit-taking,” said Dr Joseph Thomas, head of research at MK Wealth Management.
Also read: Sensex, Nifty 50 break 3-month winning streak to end May in the red; 5 major triggers to watch out for in June
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