Stock market trading this week will not take place on the festival of Holi which is celebrated across the country. On both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), the holiday for Holi is listed on March 7. However, the stock broker's association has urged to shift the date of the holiday on account of Holi.
On March 7, the trading will be closed for equity, equity derivative, and the Securities Lending and Borrowing (SLB) segment on both BSE and NSE. Also, Sebi has notified March as the date for the Holi holiday on its website.
Stock brokers' association ANMI has urged the government, exchanges, and Sebi to shift the holiday to March 8 from March 7, reported news agency PTI.
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It is to be noted that no request has been approved yet regarding the change in the Holi festival. However, it will be closely watched if the association's plea gets accepted which could lead to the revision of the festival's holiday. As of now, markets will remain closed on March 7.
Typically, trading in markets takes place five days during the weekdays and remains closed on Saturday and Sunday due to the weekend. This week, markets will be closed for three days on March 7, March 11, and March 12. While the trading will remain open on March 6, 8, 9, and 10.
In 2023, as per the Central Government department, the Holi festival fall on March 8th. While the Holika Dahan is set on March 7th.
Also, Reserve Bank of India has released the list of bank holidays for both March 7th and 8th in different cities of India. Banks will be closed on March 7th in Belapur, Guwahati, Hyderabad - Telangana, Imphal, Jaipur, Jammu, Kolkata, Mumbai, Nagpur, Panaji, Srinagar, and Thiruvananthapuram. Meanwhile, banks will be closed in regions like Agartala Ahmedabad, Aizawl, Bhopal, Bhubaneswar, Chandigarh, Gangtok, Imphal, New Delhi, Patna, Raipur, Shillong, and Shimla.
In cities like Kolkata, Kanpur, Dehradun, and Ranchi --- banks are closed on both March 7th and 8th.