As Diwali approaches, investors are keen to know about the upcoming stock market closures. Both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will operate as usual this week on Wednesday, October 30, and Thursday, October 31, 2024, with trading hours from 9:15 a.m. to 3:30 p.m.
However, on Friday, November 1, 2024, the markets will close in observance of Lakshmi Poojan. Despite the closure, a special one-hour muhurat trading session will take place from 6 p.m. to 7 p.m. This session marks the beginning of Samvat 2081, the Hindu New Year, and is considered auspicious by many investors who believe that trading during this time can lead to long-term wealth and prosperity.
Saturday, November 2, is a regular weekend closure, coinciding with the Diwali-Balipratipada celebrations. After Diwali, there are only two remaining trading holidays for 2024: Gurupurab on November 15 and Christmas on December 25.
The muhurat trading session on November 1 will feature a pre-open session from 5:45 p.m. to 6:30 p.m., specifically for companies undergoing Initial Public Offerings (IPOs). Settlements for trades during this period will proceed on a T+1 basis. Historically, while this session can introduce volatility, it has also provided positive returns, attracting investors looking to leverage the auspicious timing.
Key Stock Market Holidays for 2024:
- Diwali (Laxmi Pujan): Muhurat trading on November 1, 2024.
- Gurunanak Jayanti: Market closure on November 15, 2024.
- Christmas: Market closure on December 25, 2024.
It’s worth noting that the Multi Commodity Exchange (MCX) will remain closed for both sessions on Wednesday, October 30.
As of Wednesday, October 30, India’s benchmark equity indices opened lower, reflecting mixed global cues. The BSE Sensex was down by 154 points at 80,215, while the NSE Nifty50 saw a decline of 71 points at 24,396.
Investors should mark their calendars for these important dates and consider the implications of the upcoming closures and trading sessions on their investment strategies.
