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Stock Market Holiday for Bakri Eid shifted from Wednesday to Thursday

5 Mins 27 Jun 2023 0 COMMENT

As per the initial holiday calendar released by BSE and NSE, the market was supposed to remain closed on 28 June 2023 (Wednesday), on account of Bakrid. However, as per the latest circular, trading on exchanges will remain closed on 29 June 2023 (Thursday) and the market will remain open tomorrow - Wednesday, 28 June. While declaring trade holidays at the start of 2023, a total of 15 trade holidays were declared, out of which Bakri Id was one of them. 

The last-minute changes came as the Maharashtra government postponed the Bakri Id holiday in the state to June 29 from June 28, and BSE and NSE mostly follow the Maharashtra holiday calendar.

Let us look at what all has changed.

1. ideaForge IPO subscription date

In our ideaForge Technology IPO analysis blog, we have mentioned that the subscription window for the IPO is between 26 June and 29 June. However, now that has been updated to 28th June. 

2. Expiry date change

As you know, the weekly expiry happens on Thursday, and now it has been declared a holiday. Therefore, the expiry and maturity for instruments FUTIDX, FUTSTK, OPTIDX, and OPTSTK have also been changed from June 28 to June 29. 

Please note, starting July 14, there will be a change of Bank Nifty Futures & Options (F&O) from Thursday to Friday. 

On the 29th, commodity markets to remain closed in the first half, and trading will be open only in the evening session i.e. 5 pm onwards.

3. Fund withdrawal request

Funds withdrawn on June 29 will be processed on June 30 and the funds will be received by 2 PM on July 1, 2023. Profits and credits received from trades or exiting positions in the derivatives segment on June 28, will be available for withdrawal on June 30 (EOD).

4. Unanswered questions

Investors will continue to wait for the notification from the RBI for directions on the auction timeline and settlement dates for the debt market.

Remaining holidays

The remaining holidays for the current calendar year are as below:

  • Independence Day - August 15
  • Ganesh Chaturthi - September 19
  • Mahatma Gandhi Jayanti - October 2
  • Dussehra - October 24
  • Diwali - November 14
  • Gurunanak Jayanti - November 27
  • Christmas - December 25

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