Stock market holiday today: Are NSE, BSE closed on May 20 for Lok Sabha elections phase 5?

The country’s two main bourses – the National Stock Exchange of India (NSE) and the BSE – will remain shut today (May 20) in view of the fifth phase of Lok Sabha elections 2024.

The reason behind the closure is that Mumbai – the country’s financial capital where the two stock exchanges are located – is among the 49 constituencies where voting is being held in the fifth round of the general elections.

All the six parliamentary segments of Mumbai, along with the neighbouring Lok Sabha seat of Thane, are being contested in this phase of the elections.

Considering the election date, the NSE and BSE updated their holiday calendar to include May 20 among the dates when the bourses would halt trading activities.

However, the stock exchanges would operate as usual on the sixth and seventh phase of the elections, scheduled on May 25 and June 1, respectively. The trading hours would also remain unaffected on June 4, when the Election Commission of India has scheduled the counting of votes.

India VIX below 20

India VIX, which is a volatility index based on the NIFTY Index Option prices, edged slightly lower to drop below the 20-mark on May 17. A surge in the index value indicates that the market is apprehensive about potential volatility in view of external events. The outcome of the Lok Sabha elections is seen as one such event, which can lead to volatile movement.

On May 17, India VIX settled 4.31% lower at 19.8, after remaining above 20 earlier in the week.

BSE, NSE next holiday

After May 20, the next holiday – apart from the usual weekends – will be observed by the NSE and BSE on June 17, which has been notified as a public holiday by the government on account of Eid al-Adha.