This week, the trading in the stock market will be reduced by 1 day due to the celebration of Holi festival across India. The holiday for this festival is scheduled on March 7 on both BSE and NSE. However, the Stock Brokers Association has asked for a change in the date of the holiday due to Holi.
Trading will close for Equity, Equity Derivatives, and Securities Lending and Borrowing (SLB) segments on March 7. BSE and NSE. Further, SEBI has notified the date of March 7 for Holi holiday on its website.
According to a PTI report, stock brokers’ association ANMI has urged the government, exchanges and SEBI to shift the holiday from March 7 to March 8.
There has been no change in the markets regarding the Holi holiday. It will be keenly seen whether the plea of the association leads to the modification of the said festival leave. But for now the markets will remain closed on March 7.
Generally, business in Market is for five days which is a working day. And by default, the markets are closed on Saturday and Sunday due to weekend holidays.
The markets will remain closed for three days this week on March 7, March 11 and March 12. While trading will be allowed on 6, 8, 9 and 10 March.
The stock market ended last week on an alarming note following mega block deals from large foreign investors in four Adani group companies. Sensex and Nifty 50 posted their best one-day gains of 2023 on Friday. Overall, the Sensex gained 1.3% and the Nifty 50 about 0.9% for the week.
On Friday, the Sensex closed at 59,808.97, up 899.62 points or 1.53%. While the Nifty 50 closed at 17,594.35, up 272.45 points or 1.57%.
In 2023, according to the central government department, the festival of Holi is on March 8. While Holika Dahan is on 7th March.
Also, RBI has released the list of bank holidays for both 7th and 8th March in many regions of India.
Banks will remain closed in Belapur, Guwahati, Hyderabad – Telangana, Imphal, Jaipur, Jammu, Kolkata, Mumbai, Nagpur, Panaji, Srinagar and Thiruvananthapuram on March 7. Meanwhile, banks will remain closed in areas like Agartala Ahmedabad, Aizawl, Bhopal, Bhubaneshwar, Chandigarh, Gangtok, Imphal, New Delhi, Patna, Raipur, Shillong and Shimla.
In cities like Kolkata, Kanpur, Dehradun and Ranchi— Banks remain closed on both 7th and 8th March.
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