In 2014 and 2019 elections additionally, the Indian inventory exchanges BSE and NSE had introduced a buying and selling vacation.
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Lok Sabha Elections: NSE Announces May 20 As Trading Holiday – News18
Even because the Lok Sabha elections are simply going to happen in India in seven phases, the NSE has declared May 20, when the polls are scheduled in Mumbai, as a buying and selling vacation.
This is in keeping with the Section 25 of the Negotiable Instruments Act 1881, which recognises the significance of residents’ participation within the electoral course of.
According to the Election Commission’s bulletins final week, the Lok Sabha polls in Maharashtra will probably be held in 5 phases on April 19, April 26, May 7, May 13 and May 20.
“The exchange notifies Monday, May 20, 2024 as a trading holiday on account of Parliamentary Elections in Mumbai. Members are requested to take note of the same,” stated NSE in a round on April 8.
On May 20, voting could be held within the Lok Sabha seats of Dhule, Dindori, Nashik, Bhiwandi, Kalyan, Thane, Mumbai North, Mumbai North West, Mumbai North East, Mumbai South, Mumbai South Central, Mumbai North Central and Palghar.
The market will even be shut on May 1 for Maharashtra Day. Prior to that, markets will even be shut on Ramzan Id (April 11) and Ram Navami (April 17).
The date of vote counting is scheduled on June 4, 2024.
In 2014 and 2019, the Indian inventory exchanges BSE and NSE had additionally introduced a buying and selling vacation. Forex and cash markets had been additionally closed in the course of the voting day on these years.
On April 9, fairness benchmark indices opened in inexperienced with the BSE Sensex rising 200 factors to 75,051 and the NSE Nifty50 advancing by 54 factors to 22,720. Nestle India, ExtremelyTech Cement, Tata Motors, TCS, Infosys, Wipro, ICICI Bank led the features on the Sensex, whereas Tech Mahindra and IndusInd Bank had been among the many prime losers.
