Stock market remains closed for Ayodhya Ram Mandir ‘Pran Pratishtha’ ceremony

In a significant development for the Indian stock market, trading activities at the Bombay Stock Exchange (BSE) and National Exchange (NSE) will remain closed today. This decision comes as the State Government of Maharashtra has declared a public holiday on Monday, 22nd January 2024, due to the ‘Pran Pratishtha‘ ceremony at Ayodhya Ram Mandir.

In accordance with the circular dated December 26, 2023, the Indian exchanges announced the trading holiday. This means that there will be no action in the Equity Segment, Equity Derivative Segment, and SLB Segment. Additionally, trading at Currency Derivatives Segments will also remain suspended.

The Commodity Derivatives Segment and Electronic Gold Receipts (EGR) Segment will experience a temporary suspension of trading in the morning session, from 9:00 AM to 5:00 PM, but will resume in the evening session at 5:00 PM.

The National Stock Exchange (NSE) officially declared the trading holiday in a press release, citing the public holiday declared under Section 25 of the Negotiable Instruments Act, 1881.

Furthermore, the Reserve Bank of India (RBI) notified that transactions and settlements in Government securities, foreign exchange, money markets, and Rupee Interest Rate Derivatives will also be postponed to the next working day, January 23, 2024, due to the public holiday in Maharashtra.

As a result, this week will be a truncated trading week, with the stock market remaining closed on Friday, January 26, 2024, for the Republic Day celebration across the nation. This means there will only be three trading sessions from Tuesday to Thursday this week.

Today marks the sacred ceremony of Ayodhya Ram Mandir ‘Pran Pratishtha’, scheduled to take place between 12.15 PM to 12.45 PM.