Indian stock markets will be closed on Wednesday, 20th November 2024, due to the Maharashtra assembly elections.
Trading on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will be suspended for the day. This holiday announcement was made by the stock exchanges.
Other Markets to Remain Closed
In addition to the stock market, the currency market and commodity exchange will also observe a holiday on the same day.
The decision was made due to the elections and the political activities taking place in Mumbai, India’s financial capital.
Stock Market Holidays in November
The stock market will be closed for a total of 12 days in November, which includes official holidays and weekends.
The market was already closed on 1st November for Diwali and will also close on 15th November for Guru Nanak Jayanti, followed by the Maharashtra election closure on 20th November.
Maharashtra Assembly Elections and Participation
Voting for the 288-member Maharashtra Assembly is set for 20th November, with the counting of votes scheduled for 23rd November.
The holiday allows residents of Mumbai and Maharashtra to vote without work-related distractions.
In addition, Jharkhand assembly elections and by-elections for nine assembly seats in Uttar Pradesh will also be held on this date.
Official Notification from NSE
The National Stock Exchange (NSE) issued an official notification confirming the trading holiday on 20th November due to the Maharashtra elections.
This holiday aims to support voter participation by minimizing interruptions from financial activities.
