Due to the Holi 2023 celebrations taking place across India this week, trading on the stock market will be curtailed by a day. The holiday for this festival is scheduled on March 7th for both BSE and NSE.
The stock brokers association has, however, requested that Holi 2023 holidays be moved.
Equity, equity derivatives, and the Securities Lending and Borrowing (SLB) segment on the BSE and NSE will all be off-limits for trade on March 7. Moreover, Sebi has announced on its website that the Holi 2023 holiday will take place on March 7.
The government, exchanges, and Sebi have been encouraged to move the vacation from March 7 to March 8, according to a report from PTI.
The markets have not yet changed in preparation for the colorful festival. If the association\’s request results in a change to the holiday associated with the festival of colors, it will be closely followed. But for now, on March 7, markets will be shut.
Market trading typically lasts five days, or weekdays. Also, due to weekend holidays, markets are automatically closed on Saturday and Sunday.
The markets will be closed on March 7, March 11, and March 12 this week. However, trading will be permitted on March 6, 8, 9, and 10.
According to a department of the Central Government, the Holi 2023 celebration will take place on March 8th. Although the Holika Dahan is scheduled for March 7.
Moreover, the RBI has published a schedule of bank holidays in several parts of India for both March 7 and 8.
Banks in Belapur, Guwahati, Hyderabad – Telangana, Imphal, Jaipur, Jammu, Kolkata, Bombay, Nagpur, Panaji, Srinagar, and Thiruvananthapuram will be closed on March 7. Additionally, banks in places like Agartala, Ahmedabad, Aizawl, Bhopal, Bhubaneswar, Chandigarh, Gangtok, Imphal, New Delhi, Patna, Raipur, Shillong, and Shimla will be closed during this time.
Banks are closed on March 7 and 8 in cities including Kolkata, Kanpur, Dehradun, and Ranchi.