Indian Stock Markets Closed on October 2 for Gandhi Jayanti

Indian financial markets, specifically the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), will be closed on Wednesday, October 2, 2024, in observance of Gandhi Jayanti. This national holiday celebrates the birth of Mohandas Karamchand Gandhi, an influential leader in India’s struggle for independence renowned for his adherence to nonviolent resistance and civil disobedience.

All trading activities at these exchanges, including equity, equity derivatives, and securities lending and borrowing segments, will be paused for the duration of the holiday. Furthermore, the Multi Commodity Exchange (MCX) has also announced that it will suspend both its trading sessions on this day.

Normal trading activities will resume on Thursday, October 3, allowing investors to engage with the markets following the day off. Stocks ended slightly lower on Tuesday, prior to the closure, as the Indian benchmark equity indices BSE Sensex and NSE Nifty50 both registered minor declines after a largely stable trading session.

Intraday data reveals that the BSE Sensex fell marginally by 0.04 percent, while the NSE Nifty50 experienced a reduction of 13.95 points or 0.05 percent. Out of the 50 stocks within the Nifty50 index, 29 recorded losses, including IndusInd Bank, ONGC, Asian Paints, Bajaj Auto, and Tata Steel, which saw declines of up to 2.66 percent. Conversely, companies such as Tech Mahindra, Mahindra & Mahindra, Britannia Industries, Infosys, and Adani Enterprises posted gains as high as 2.90 percent.

On a broader scale, the Nifty SmallCap100 index increased by 0.79 percent, while the Nifty MidCap100 index rose by 0.34 percent. Year-to-date figures demonstrate that the BSE Sensex has risen over 16 percent, with the Nifty 50 experiencing growth of approximately 18 percent.

India’s stock markets adhere to regular operating hours from 9:15 AM to 3:30 PM, Monday through Friday, with a brief pre-open session from 9:00 AM to 9:07 AM. Trading is traditionally suspended on weekends, as well as various public holidays like Gandhi Jayanti.

Looking ahead, the stock markets in India will remain operational for the remainder of October, with the next scheduled holiday being on November 1 for Diwali. On this occasion, both the NSE and BSE will observe a special one-hour Muhurat Trading session, although the exact timings have not yet been announced. Additional holidays this year, including Diwali Laxmi Pujan on November 1, Gurunanak Jayanti on November 15, and Christmas on December 25, will also affect trading schedules.