Share Market Holiday: Not Wednesday, Sensex & Nifty to be closed on this day - Hindustan Times
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Share Market Holiday: Not Wednesday, Sensex & Nifty to be closed on this day

Jun 28, 2023 07:21 AM IST

Share Market Holiday: At the beginning of 2023, a total of 15 days suspension were designated, with Eid declared on Wednesday.

Stock Market holiday: The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will stay closed on Thursday rather than Wednesday. According to the Reserve Bank of India (RBI) latest circular, the Indian stock market will open as usual on Wednesday, which was previously designated as a tradding off day on account of the Eid celebration. Instead, the holiday has been shifted to Thursday, one day later. (ALSO READ: Sensex gains 445 points to end at 63,415; Nifty advances over 18,810)

The stock market index on a display screen at the Bombay Stock Exchange (BSE) building in Mumbai.(PTI)
The stock market index on a display screen at the Bombay Stock Exchange (BSE) building in Mumbai.(PTI)

“There will be no transactions and settlements in Government securities, foreign change, money markets and rupee interest rate derivatives on June 29, 2023. Settlement of all outstanding transactions due on June 29, 2023 will accordingly get postponed to the next working day i.e. June 30, 2023,” RBI said in a statement on Tuesday.

What is the reason of change?

The RBI circular read, “The Government of Maharashtra has declared June 29, 2023 as a public holiday under Section 25 of the Negotiable Instruments Act, 1881 The public holiday on June 28, 2023 declared earlier has been cancelled. ”

What other changes are being impacted by the shift?

RBI further addded that settlement of the auction of state government securities conducted on Tuesday, will take place on Wednesday. The auction of Government of India treasury bills scheduled on Thursday will now be conducted on Wednesday, with settlement on Friday.

Accordingly, the central bank notified that the tenor for transactions of Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) operations under the Liquidity Adjustment Facility (LAF) for Tuesday will be modified to one day and that of Wednesday will be modified to two days. Further, the SDF and MSF windows under the LAF will be available as usual on Thursday.

The change has also impacted ideaForge Technology IPO, which opened on Monday and had to remain open for bidding till June 29. According to BSE notice, it will now end on June 28, a day earlier.

Trading holidays

At the beginning of 2023, a total of 15 trade holidays were designated, with Eid being the sole stock market holiday falling in the month of June. (ALSO READ: Bank holidays in July: Banks to remain closed for 15 days. Check full list)

The next stock market holiday will be on August 15th for the celebration of Independence Day.

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