The Bombay Stock Exchange (BSE) has announced the closure of equity markets on Monday, May 20, 2024, owing to the elections in Mumbai.
This closure will affect all segments, including the equity segment, derivative segment, and Securities Lending and Borrowing (SLB) segment.
Additionally, the Multi-Commodity Exchange (MCX) will be closed for the morning session but will reopen for the evening session.
The closure is in line with the BSE market holiday calendar, which aligns with the Lok Sabha polls in Mumbai. As a result, all trading activities across the equity, derivative, and SLB segments will remain suspended for the day.
Apart from the Mumbai Elections on May 20, 2024, the market will observe closure on several other occasions throughout the year, including "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)." Any modifications to these holidays will be communicated through a separate circular issued in advance.
On Saturday, Indian equities underwent two special sessions to test system responsiveness in case of unexpected events.
The sessions were conducted from 9:15 a.m. to 10 a.m. (0345-0430 GMT) at a primary site and from 11:30 a.m. to 12:30 p.m. (0600-0700 GMT) at a disaster recovery site.'
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