Equity markets will be closed on Monday due to the Mumbai elections, according to the BSE holiday calendar. All segments, including equity, derivatives, and SLB, will be closed. The Multi-Commodity Exchange (MCX) will be closed for the morning session but open for the evening session, reported Economic Times.
In addition to the Mumbai elections on May 20, the markets will be closed in 2024 for Bakri Id (June 17), Muharram (July 17), Independence Day (August 15), Gandhi Jayanti (October 2), Diwali (November 1), Gurunanak Jayanti (November 15), and Christmas (December 25). The exchanges may change these holidays, with a separate circular issued in advance if needed.
On Saturday, Indian equities traded in two special sessions to test system responses to unexpected events. The first session was from 9:15 a.m. to 10 a.m. and the second from 11:30 a.m. to 12:30 p.m.
These sessions took place at the primary site and a disaster recovery site, respectively. This test followed scrutiny from India’s markets regulator after a major trading outage on February 24, 2021, when NSE and BSE failed to migrate to the disaster recovery site due to a technical glitch.
The benchmark NSE Nifty 50 rose 0.16% to 22,502, and the S&P BSE Sensex increased 0.12% to 74,006. Both indices traded within a narrow range. In the Nifty 50, 38 stocks gained, 11 declined, and one remained unchanged.
The top gainers were Nestle India, Power Grid, Tata Motors, Adani Ports, and Hindalco. The top losers were JSW Steel, M&M, UltraTech Cement, LTIMindtree, and Maruti Suzuki.