Indian stock and money markets to remain shut today

Mumbai:  Indian stock markets and money market will remain  shut today i.e. January 22 to mark the Ram Mandir ‘Pran Pratishthan’.

According to the National Stock Exchange (NSE), equity and equity derivative segments will work normal hours on Saturday without DR movements, while it will be closed on January 22 (Monday).

‘In partial modification to Exchange circular reference no. 59917 dated December 26, 2023, the Exchange hereby notifies Monday, January 22, 2024 as a trading holiday on account of a public holiday declared under Section 25 of the Negotiable Instruments Act, 1881,’ said NSE in its press release.

Also Read: 47 people killed in landslide: Video 

The money markets regulated by the Reserve Bank of India (RBI) will also remain shut on January 22. ‘There will be no transactions and settlements in government securities (primary and secondary), foreign exchange, money markets and rupee interest rate derivatives on that day,’ RBI said in its circular.

‘Government of Maharashtra has declared January 22, 2024 as a public holiday under Section 25 of the Negotiable Instruments Act, 1881. Accordingly, and in modification of the press release 2023-2024/1710 issued earlier today on ‘Market Trading Hours on January 22, 2024’, there will be no transactions and settlements in Government securities (primary and secondary), foreign exchange, money markets and Rupee Interest Rate Derivatives on January 22, 2024 (Monday). Settlement of all outstanding transactions will accordingly get postponed to the next working day i.e., January 23, 2024 (Tuesday),’ said the RBI.

All public sector banks, insurance companies, financial institutions and regional rural banks (RRBs) across the country will remain closed for half a day on the special day of January 22.

After the holiday announcement, all public issues that were scheduled to open or list on January 22 have been deferred by a day.The exchanges had a special trading session on Saturday- January 20 when the markets ended lower with the Nifty closing below the 21,600 mark.