1. Markets to remain open on Saturday, January 20; closed on Monday, January 22

Markets to remain open on Saturday, January 20; closed on Monday, January 22

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Upstox

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2 min read • Updated: January 19, 2024, 9:51 PM

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Summary

The NSE and BSE have declared a trading holiday on Monday, January 22, 2024, after the RBI announced that money markets will remain closed for the entire day on January 22.

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NSE has declared a trading holiday on Monday, January 22, 2024

According to a Reuters report, the Indian stock exchanges will have a full trading session on Saturday, January 20.

Trading across equities, debt and money markets is closed on Monday due to a public holiday in Maharashtra.

The National Stock Exchange, on Friday evening, issued a circular notifying Monday, January 22, 2024 as a trading holiday. The text of the circular is reproduced below:

In partial modification to Exchange circular reference no. 59917 dated December 26,2023, the Exchange hereby notifies Monday, January 22, 2024 as a trading holiday on account of public holiday declared under Section 25 of the Negotiable Instruments Act, 1881 vide RBI press release 2023-2024/1716 dated January 19, 2024 as attached.

The BSE, too, issued a similar circular.

Earlier, the Reserve Bank of India (RBI) had announced that money markets will remain closed for the entire day on January 22.

The announcement comes after the Maharashtra government declared January 22 a public holiday under Section 25 of the Negotiable Instruments Act, 1881. This update supersedes the previous RBI statement, which had said that money markets would be open from 2:30 pm to 5:00 pm on January 22.

“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,” the RBI said.

Settlement of all outstanding transactions will accordingly get postponed to the next working day i.e., January 23, it added.

The 3-day variable rate repo auction announced earlier in the day stands canceled and a two-day VRR auction will now be conducted on January 23, the central bank added.