Is the Stock Market Closed Today (May 20)? Indian stock, bond, and commodity markets will remain shut today, May 20, on account of Lok Sabha Elections 2024. As per the BSE’s website, equity segment, equity derivative segment, SLB segment and Currency Derivatives Segments will remain shut today.
In May 2024, there are 11 stock market holidays in total, including Saturdays and Sundays.
The market will now be opened on Tuesday, May 21.
This stock market holiday on May 20 is in line with the Section 25 of the Negotiable Instruments Act 1881, which recognises the importance of citizens’ participation in the electoral process.
On May 20, voting in Maharashtra will be held in the Lok Sabha seats of Dhule, Dindori, Nashik, Bhiwandi, Kalyan, Thane, Mumbai North, Mumbai North West, Mumbai North East, Mumbai South, Mumbai South Central, Mumbai North Central and Palghar.
According to the Election Commission’s announcements last week, the Lok Sabha polls in Maharashtra were scheduled to be held in five phases on April 19, April 26, May 7, May 13 and May 20.
After this General Elections holiday, the next stock market holiday will be on ‘Bakri Id’ on June 17, 2024 (Monday).
However, for the currency derivatives segments, there are 20 holidays in the current calendar year 2024. Apart from the Lok Sabha Elections holiday, 9 more holidays are left. The next holiday will be on Buddha Pournima on May 23 (Thursday).
During the previous session, headline index NSE Nifty on Saturday closed 36 points or 0.16 per cent higher at 22,502-level. The 30-share BSE pack settled 89 points or 0.12 per cent up at 74,006. Bourses were open on May 18 due to a special trading session.
Mid- and small-cap shares also finished in the green, with the Nifty Midcap 100 up 0.51 per cent and Nifty Smallcap 100 rising 0.82 per cent. India VIX, fear index, jumped 3.67 per cent to 20.53-level.
All 16 sectoral indices on NSE settled in the green. Sub-indices Nifty Media, Nifty Consumer Durables, Nifty Oil & Gas and Nifty Realty outperformed the index by rising 1.24 per cent, 0.48 per cent, 0.47 per cent and 0.78 per cent, respectively.
On BSE, frontline stocks such as Nestle India, L&T, TCS, Power Grid, Tata Motors, SBI, Airtel, HUL and HCL Tech gained up to 2.33 per cent.
Out of a total of 3,613 stocks that traded on BSE during last trade, 2,415 settled with gains while 1,073 others ended lower. The remaining 125 stocks stayed unchanged.
The domestic bourses would reopen on May 21, 2024 (Tuesday).
Nifty outlook
“Nifty remains within the channel, closing above 22,500 for the first time in several days. However, a small bodied candle on daily charts suggests very little about the future direction of the price. Additionally, heavy writing is visible in both ‘CALL’ and ‘PUT’ at 22,500, indicating a sense of inflection. Therefore, traders need to be watchful in the initial hour to confirm any directional move. Support is visible at 22,400. On the higher end, a sustained move can take the index towards 22,600 and higher in the short term,” said Rupak De, Senior Technical Analyst at LKP Securities.
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