Stock Market Holiday: As India celebrates its 76th Independence Day on Monday, August 15, all trading activities across the country will remain closed. This means that there is a stock market holiday on Independence Day, whereby trading on NSE and BSE will be suspended. All trading operations including equity, currency and derivatives markets will be closed for the entire session at the Bombay Stock Exchange, or BSE, according to its website. Similarly, trading operations at the National Stock Exchange, or NSE, will also be suspended today for the entire session as India observes 75 years of Independence from the British Rule.
While trading operations at the stock market will open after a long weekend on Tuesday, August 16, the depositories will be closed on this day on account of Parsi New Year. This is because there is a settlement holiday on August 16 on the occasion of Parsi New Year. However, one should note that trading holidays and settlement holidays are not the same. A settlement holiday delays the execution of a transaction in stocks by one day, while on a trading holiday all operations related to it are suspended.
Stock Market Holidays in August 2022
In addition to the Independence Day holiday, trading will remain suspended on August 31 (Wednesday) for the occasion of Ganesh Chaturthi. Before this, trading was suspended on August 9 on the occasion of Muharram.
Stock Market Holidays in 2022
After August 31 2022, the next stock market holiday will fall in the month of October, meaning there will be no market holiday in September. Stock exchanges will remain shut on four other occasions in October and November. The days are 5 October (Wednesday), 24 October (Monday) and 26 October (Wednesday) on account of Dussehra, Diwali or Laxmi Pujan and Diwali Balipratipada respectively. In November there will be one trading holiday on 8 November (Tuesday) on account of Gurunanak Jayanti. In total, there were 13 declared holidays during the calendar year 2022.
On Friday, August 12, the Sensex was up 130.18 points or 0.22 per cent at 59,462.78 at close, and the Nifty was up 39.20 points or 0.22 per cent at 17,698.20 amid a volatile session. BSE midcap and smallcap indices ended marginally higher.
While traders were in for a long weekend after Friday, the stock market community received a big jolt on Sunday as the Big Bull of Dalal Street, Rakesh Jhunjhunwala passed away on the day aged 62. The last rites of the ace investor and billionaire, who was not keeping well for sometime, was performed on Sunday night. Jhunjhunwala was brought dead at the city’s Breach Candy hospital early on Sunday morning. Suffering from kidney disease and ischemic heart disease, the hospital certified that cardiac arrest was the cause of his death.