Ram Mandir 'Pran Pratishtha': Stock Market to be Closed on Jan 22, Stay Open on Saturday

The stock market will stay closed on January 22, on account of the Ram Lalla idol’s pran pratishtha at the Ayodhya temple. It will, however, remain open for all of Saturday from 9 am to 3.30 pm.

According to the National Stock Exchange (NSE), equity and equity derivative segments will work normal hours on Saturday without DR movements, while it will be closed on January 22 (Monday).

The Reserve Bank of India has also said there will be no transactions and settlements in government securities (primary and secondary), foreign exchange, money markets, and rupee interest rate derivatives on January 22, as the Maharashtra government has declared a public holiday.

“Government of Maharashtra has declared January 22, 2024 as a public holiday under Section 25 of the Negotiable Instruments Act, 1881. Accordingly, and in modification of the press release 2023-2024/1710 issued earlier today on ‘Market Trading Hours on January 22, 2024’, there will be no transactions and settlements in Government securities (primary and secondary), foreign exchange, money markets and Rupee Interest Rate Derivatives on January 22, 2024 (Monday). Settlement of all outstanding transactions will accordingly get postponed to the next working day i.e., January 23, 2024 (Tuesday),” said the RBI.

The RBI had earlier announced trading hours for the day between 2.30 pm and 5.00 pm. But, after the Maharashtra government’s decision to declare January 22 a public holiday, it said it will close money, forex and rupee interest rate derivates markets.

On Thursday (January 18), the ministry of finance issued an order declaring half day for public sector banks, insurance companies, financial institutions, and regional rural banks. The department of personnel and training also issued an order saying all central government offices, institutions, and industrial establishments will observe half day.