Maharashtra Day and Lok Sabha Elections Impact Stock Market Holidays in May 2024

The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) are slated to observe two holidays in the month of May, impacting trading activity for investors. One of these holidays falls on May 1, in commemoration of Maharashtra Day, which marks the formation of the Indian state of Maharashtra on May 1, 1960, as part of the linguistic reorganization of states in the country.

The second holiday affecting the BSE and NSE trading sessions is set for May 20, coinciding with the Lok Sabha Elections taking place across six constituencies in Mumbai. This holiday is a result of the extensive voting process in the metropolitan city during the fifth phase of the crucial national elections.

The stock market schedule for May 2024 also highlights upcoming holidays on June 17 for Bakrid, July 17 for Muharram, August 15 for Independence Day, October 2 for Gandhi Jayanti, November 1 for Diwali, November 15 for Guru Nanak Jayanti, and December 25 for Christmas.

As Maharashtra gears up for Lok Sabha elections conducted in multiple phases, voting for the state’s constituencies has already taken place in two phases on April 19 and April 26. The subsequent voting rounds are scheduled for May 7, May 13, and May 20, with the final vote count set for June 4 to determine the state’s representation in the nation’s parliamentary body.

The nationwide Lok Sabha elections in 2024 commenced with the first phase on April 19, encompassing voting in 102 seats, followed by the second phase with 88 seats on April 26. The voter turnout has been a significant aspect of these elections, providing insights into public participation and electoral engagement.