NSE Declares Holiday Due To Mumbai Elections (Image Source: iStockphoto)
The 2024 Lok Sabha elections are set to unfold across seven phases, commencing on April 19 and culminating in the counting of votes on June 4. This democratic spectacle encompasses a blend of by-elections, assembly elections, and the general elections, spanning a comprehensive electoral schedule.
The Phase 5 of this electoral saga, slated for May 20, will spotlight Mumbai as the focal point. The metropolis, along with its surrounding areas, comprising six Lok Sabha seats and key constituencies such as Thane, Kalyan, and Palghar, will actively participate in the electoral process on this significant day.
On Monday, the National Stock Exchange of India (NSE) has announced that May 20 will be observed as a trading holiday due to the upcoming general elections voting in Mumbai.
As per the NSE’s circular, “In partial modification to Exchange circular reference no. NSE/CMTR/59722 dated December 12,2023, the Exchange hereby notifies Monday, May 20, 2024 as a trading holiday on account of Parliamentary Elections in Mumbai.”
Historically, during previous general elections, both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) have declared trading holidays on polling days, with money markets remaining closed to facilitate the smooth conduct of the electoral proceedings.
Furthermore, as the electoral calendar unfolds, the stock market will observe additional holidays in April and May.
Stock Market Holiday In April
In April, trading will be closed on April 11 for Id-Ul-Fitr (Ramadan Eid) and on April 17 for Shri Ram Navmi.
Stock Market Holiday In May
Similarly, in May, the market will observe closures on May 1 for Maharashtra Day and May 20 due to the general elections voting in Mumbai.
