Ram temple opening: BSE, NSE to have full-fledged trading session on Saturday, will remain shut on Monday
Ram temple opening: Stock markets to be shut on Jan 22, full-fledged trading session on Jan 20
Monday (January 22) has been declared as a holiday for stock markets on account of public holiday declared by Maharashtra government owing to the consecration of the Ram temple in Ayodhya and a full-fledged trading session will be held on Saturday (January 20), the National Stock Exchange said on Friday.
On Saturday, markets will operate normally, i.e., from 9.00 am to 3.30 pm.
"Members are requested to note that Exchange shall be conducting regular trading sessions on Saturday, January 20,2024 from primary site in Equity and Equity Derivatives segments as per regular market timings. Price bands applicable for Normal trading day shall continue to be remain applicable on January 20, 2024," said NSE in a statement.
Nifty Midcap expiry will be shifted to Saturday instead of Monday, said NSE.
"For Equity Derivatives segment, MID CP NIFTY contract expiring on 22-Jan-2024 shall now expire on 20-Jan-2024. In view of the same, there shall be change in the Maturity date only for the Nifty MIDCAP SELECT contract," said NSE.
The Maharashtra government has declared January 22 as a public holiday. So, there will be no transactions and settlements in government securities (primary and secondary), foreign exchange, money markets and rupee interest rate derivatives on that day, the Reserve Bank of India (RBI) said in a fresh circular on Friday evening.
The central bank modified its earlier circular wherein it had said that trading in money markets will open at 2.30 pm instead of 9 am on January 22.
According to RBI, the three-day Variable Rate Repo (VRR) auction conducted on Friday with date of reversal on January 22 will now be reversed on January 23.
Further, it said the three-day VRR auction announced earlier in the day stands cancelled.
Instead, a two-day VRR auction will be conducted on January 23.
Public sector banks, insurance companies, financial institutions and Regional Rural Banks (RRBs) across the country will remain closed for half-day on January 22.
The Department of Personnel and Training has also issued an order for a half-day closure for central government establishment on January 22.
The special trading session scheduled for Saturday has been postponed. The special session in the equity and equity derivative segment on Saturday was to check their preparedness to handle major disruption or failure at the primary site. The special live trading session would have had intra-day switch over from Primary Site (PR) to Disaster Recovery (DR) site.
The exchanges said there will be two sessions -- the first from 9.15 am to 10 am from the PR, and the second from 11.30 am to 12.30 pm from the DR site.
With inputs from PTI and Credit -Business Today