Investors and traders in India will have a market holiday on Thursday, June 29, in observance of Bakra Eid, also known as Bakrid. Both NSE & BSE will remain closed on this day. This means that trading in the equity, derivatives, securities lending and borrowing (SLB), and currency derivative segments will be unavailable.
In addition to the stock market, the forex market will also be closed on Bakra Eid. This holiday applies to both the capital market and the money market, ensuring a complete break for financial activities.
If you are involved in currency trading, please note that the currency market will be shut on Thursday, 29 June 2023. And it will resume operations the following day, 30 June 2023. This applies to all currency derivative transactions.
For those participating in the commodity market, the Multi Commodity Exchange (MCX) will have some changes in its schedule. On Thursday, the morning session will be closed, meaning trading will be available only from 5 pm onwards until the usual closing time of 11:30/11:55 pm. Therefore, commodity trading will be limited to the evening session.
It's essential for traders and investors to be aware of market holidays and plan their activities accordingly. While Bakra Eid is a significant religious festival, it also impacts the financial markets, leading to a temporary suspension of trading.
Looking ahead, mark your calendar for another market holiday on August 15, which is observed for India's Independence Day. On that day, the stock market will be closed, allowing market participants to celebrate the country's freedom.
Stay informed about market holidays and important dates to effectively manage your trading and investment activities.