Domestic financial markets are closed on Wednesday on account of Ram Navami. According to the BSE’s website, equity, equity derivates, and SLB and currency segments will remain closed on Wednesday. The market will be opened on Thursday, April 18.
The Multi Commodity Exchange (MCX) will remain closed on Wednesday.
However, the commodity derivatives segment of the Sensex will be opened for trading on April 17 in the evening session at 5 pm.
Since it’s also a settlement holiday, the commodity account balance on April 17 will not include the credits from profits from trades or positions in the commodity derivatives on April 16 and credits from exiting option positions on April 16.
On Ram Navami, Indians celebrate the birthday of Lord Ram, and the devotees observe a day-long fast on this auspicious day.
In the calendar year 2024, there will be 9 more holidays after the Ram Navami holiday (15 holidays in total this year). The next holiday after Ram Navami is on Maharashtra Day on May 1.
However, for the currency derivatives segments, there are 19 holidays in the current calendar year 2024. Apart from the Ram Navami holiday, 10 more holidays are left.
For the rest of 2024, markets will be shut for Maharashtra Day (May 1), Bakri Id (June 17), Muharram (July 17), Independence Day (August 15), Mahatma Gandhi (October 2), Diwali (November 1), Gurunanak Jayanti (November 15) and Christmas (December 25).
A special muhurat trading will be held on November 01 for Diwali. The exchanges may alter any of the above holidays, for which a separate circular will be issued in advance.
Meanwhile, domestic stock markets took a beating on Monday with benchmark Sensex and Nifty extending the 3-day fall by heavy selling amid weak global trends and fears of escalating tensions in the Middle East. Outflow of foreign fund also dented investors’ sentiment.
Analysts said a drop in the probability of a rate cut in the short-term also added to the selling pressure.
Heightened concerns arose following stronger-than-anticipated US retail sales, amplifying the assumption that the US Federal Reserve might delay rate cuts, leading to a notable uptick in the dollar index and US bond yields.
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