Amidst the busy earnings season, Indian equity markets will take a break today as stock exchanges will be closed today, i.e. Thursday, May 28, in observance of the occasion of Bakri Id.
This means there will be no trading on NSE and BSE today, and all the orders placed yesterday will get settled on Friday, May 29, under the T+1 trading cycle.
Investors were previously confused over the Bakri Id holiday as in some states the festival was observed on May 27.
What all markets are closed?
India’s two major stock exchanges, NSE and BSE, will suspend trading today across key segments including equities, derivatives, and securities lending. Also, trading in the currency derivatives market will come to a halt for the occasion of Bakri id.
Are commodity markets open?
The Multi Commodity Exchange (MCX) will observe a partial closure as the commodity exchange will suspend trading for its morning session, which commences at 9:00 AM and concludes at 5:00 PM. However, trading on MCX will resume for its evening session (5:00 PM to 11:00 PM) to align with global market prices.
The National Commodity & Derivatives Exchange (NCDEX) will observe a full closure for the festival of Bakri Id.
What is the festival of Bakri Id?
Also known as Eid Al-Adha, it is one of the two major Eid festivals in Islam. The festival falls on the 10th day of the Islamic month of Zil Hija and may vary across regions depending on the sighting of the moon.
Upcoming stock market holidays
The next stock market holiday would fall on Friday, June 26, for the occasion of Muharram. The months of July and August would see no holidays for the domestic equity markets as August 15, which is India’s Independence Day, would be a Saturday.
The month of October will witness two holidays for equity markets, the first being on Friday, October 2, in observance of Mahatma Gandhi Jayanti, and the second being on Tuesday, October 20, for the festival of Dussehra.