Updated January 20th, 2024 at 08:58 IST
NSE Declares Holiday on Jan 22 for Ram Lalla's Pran Prathistha, Markets to Remain close
The Mumbai stock markets closed for the Ram Temple ceremony, but trading will be available today from 9 am to 3:30 pm.
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Mumbai: The stock markets for both equity and equity derivatives will be closed on Monday, January 22, due to the Ram Temple consecration ceremony in Ayodhya, declared as a public holiday under the Negotiable Instruments Act, 1881, according to a NSE circular.
However, the National Stock Exchange has announced that trading will take place on Saturday, January 20, from 9 am to 3:30 pm without Disaster Recovery movement. This means that while markets will be closed on Monday, there will be trading opportunities on Saturday within the specified time frame.
Simultaneously, the Reserve Bank of India (RBI) has declared a suspension of transactions and settlements in various financial markets, including government securities, foreign exchange, money markets, and rupee interest rate derivatives.
In a release, the RBI informed that the settlement for all pending transactions will be postponed to the subsequent working day. Additionally, the three-day variable rate repo (VRR) auction, initially scheduled for reversal on Monday, will now take place on January 23. Notably, the previously announced three-day VRR auction has been cancelled, and a two-day VRR auction is set to be conducted on Tuesday.
Furthermore, as part of these developments, all bank branches in Uttar Pradesh and certain other states will remain closed on Monday.
Published January 20th, 2024 at 08:55 IST