Stock Market Holidays 2024: BSE, NSE to Remain Open from September 16-18 Despite Public Holidays

The Indian stock markets—both BSE and NSE—will not be closed from September 16 to September 18, 2024, despite the recent changes in public and bank holidays in Mumbai and other cities across India. Trading in equity, equity derivatives, commodities, currencies, and other segments will continue as usual during these days. The exchanges’ official holiday calendar remains unaffected, with regular holidays only on Saturdays and Sundays.

Stock Market Holidays 2024: BSE, NSE to Remain Open from September 16-18 Despite Public Holidays

Impact of Milad-un-Nabi, Ganesh Visarjan, and Government Declarations:

  • September 16, 2024: Banks and schools in many cities will be closed due to Milad-un-Nabi or Id-e Milad (Prophet Mohammad’s birthday).
  • September 17, 2024: This will see more widespread closures, especially in Maharashtra, due to a combination of Milad-un-Nabi, Ganesh Visarjan, and other regional festivals.
  • September 18, 2024: The Maharashtra government has declared this day as a public holiday for Eid-e-Milad, under Section 25 of the Negotiable Instruments Act, 1881.

Although the Reserve Bank of India (RBI) has announced that there will be no transactions or settlements in certain markets, such as Government securities, foreign exchange, and rupee interest rate derivatives on September 18, the stock markets will remain fully operational during these days.

Stock Market Performance and Outlook for September 16–20:

The Indian stock market showed resilience last week, despite challenges like SEBI’s new disclosure norms for FIIs and ongoing fears of a US recession. The market was bolstered by several positive macroeconomic factors, including:

  • US Inflation and Job Market Data: US inflation showed a slight dip, and the job market softened, leading to optimism about potential rate cuts by the US Federal Reserve.
  • Domestic Inflation and Manufacturing: Indian inflation remained steady, while the Index of Industrial Production (IIP) for July showed improvement.
  • Festive Season Expectations: With a strong monsoon and expectations for rising demand during the festive season, investor sentiment remained positive.

The Indian stock market benchmarks—Sensex and Nifty—saw a strong performance in the previous week (September 9–13). Sensex surged by 1,712.02 points (2.11%), and Nifty 50 climbed by 603.35 points (2.44%). Both indices reached new record highs, reflecting market optimism driven by rate-cut expectations globally.

Key Factors to Watch This Week:

Looking ahead, several important events will shape market movements during the week of September 16–20:

  1. FOMC Meeting: The US Federal Open Market Committee (FOMC) meeting will be closely monitored as it could signal future rate cuts or hikes based on inflation trends.
  2. Domestic Corporate Earnings: Q2 corporate earnings are expected to improve, which could provide further momentum to Indian markets.
  3. Global Rate-Cut Optimism: Continued optimism about potential rate cuts from central banks such as the European Central Bank (ECB) and the US Fed could have a positive ripple effect across global and Indian markets.

In summary, despite the public holidays affecting banks and other institutions, the Indian stock market will remain open for trading. Investors can expect a continued focus on global macroeconomic trends, domestic earnings, and central bank policies during this period.

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