Why Stock Market Is Closed For Trading Today
Maharashtra assembly elections are taking place in a single phase today.
The National Stock Exchange (NSE) and BSE will remain closed today, due to the Maharashtra Assembly elections. Trading across all segments, including equity, equity derivatives and the securities lending and borrowing (SLB) segment, will be suspended for the day as voters head to the polls.
The stock market closure today comes on the heels of a long weekend. The markets remained shut on Friday, November 15, for Guru Nanak Jayanti, followed by the regular weekend closures on November 16 and 17. As a result, November 20 marks an extra break for investors.
Remaining market holidays in 2024
In 2024, the stock market will remain closed on Christmas Day, December 25. November saw a total of three additional holidays beyond the regular weekends. The markets remained closed for 12 days this month.
Stock market performance on November 19
On November 19, equity markets showed mixed performance. The NSE Nifty 50 index snapped a seven-day losing streak, closing 64.70 points, or 0.28 per cent, higher at 23,518.50. The BSE Sensex also saw a rebound, reversing a four-day loss with a 239.38-point, or 0.31%, gain, ending the day at 77,578.38. However market sentiment remained cautious due to rising concerns over the geopolitical tensions between Ukraine and Russia. Reports of Ukraine’s missile strikes deep inside Russia, potentially escalating to a nuclear response, weighed on investor sentiment.
What about banks in Maharashtra?
On November 20, banks in Maharashtra will also remain closed, due to the Maharashtra assembly elections. Digital banking services like ATMs, UPI systems and online banking will continue to function.
Maharashtra assembly elections
The Maharashtra assembly elections are taking place in a single phase on November 20, across all 288 assembly seats. Polling began at 7 am and will continue until 6 pm.
In the battle of two alliances, the Maha Vikas Aghadi (MVA) of the Shiv Sena (Uddhav Thackeray faction), Nationalist Congress Party (NCP) under Sharad Pawar, and Congress is up against the Mahayuti Alliance of the Bharatiya Janata Party (BJP), Shiv Sena (Eknath Shinde faction) and NCP under Ajit Pawar. The results will be declared on November 23.
On November 20, Mumbai and other cities in Maharashtra are also observing a dry day, meaning the sale of alcohol is prohibited during voting hours.
