Indian stock market open on Eid

Eid Market
Eid Market

The Indian stock market will remain open on Monday, September 16, 2024, despite the observance of Eid-e-Milad.

However, it is a settlement holiday, which means that stock trade settlements will be delayed due to the closure of depositories where shares are held in Demat accounts. Under the T+1 settlement system, stock trades usually settle one day after the trade date.

For example, a stock bought on Monday should settle by Tuesday. On settlement holidays, the transfer or settlement of shares is delayed, adding one day to the usual settlement process.

As a result, a stock bought on September 16 will not be deposited into the buyer’s Demat account until the next working day.

Indian market remains open on Eid

There are only four trading holidays remaining in the 2024 calendar year:

– Mahatma Gandhi’s Birthday (October 2)
– Diwali (November 1)
– Gurunanak Jayanti (November 15)
– Christmas (December 25)

On Friday, the Nifty 50 index declined by 32 points, closing at 25,356, while the BSE Sensex dropped 71 points to finish at 82,890. The Bank Nifty index gained 165 points, closing at 51,938.

In the broader market, the Small-cap index outperformed the major indices with a 0.95% gain, and the Mid-cap index rose by 0.48%. Investors should be aware of the impact of settlement holidays on their trading strategies, especially for Delivery (Cash) or Margin Trading Facility (MTF) transactions. Trades executed on September 13 and 16 will be settled on September 17, which means that securities bought on these dates cannot be sold until the settlement process is completed.

To plan their trades effectively, investors can refer to the official list of stock market holidays provided by the BSE and NSE websites. By staying informed about settlement holidays and trading schedules, market participants can make well-informed decisions and avoid potential disruptions to their investment strategies.

Harper Johnson

Harper Johnson stands at the forefront of digital marketing, where she dissects and interprets the impact of online advertising trends, social media dynamics, and search engine algorithms on consumer behavior.

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