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Indian equity benchmarks and NSE Nifty are set to undergo a 10-day closure in November 2023, due to holidays including Diwali Balipratipada and Gurunanak Jayanti. The BSE, which is the country’s oldest exchange, has listed a total of 15 holidays for the equity, equity derivatives, and SLB segments in the year 2023.
By the end of October, twelve of these holidays have already taken place. The remaining three holidays include Diwali Balipratipada, Guru Nanak Jayanti, and Christmas. Trading will be halted on November 14 for Diwali-Balipratipada, on November 27 due to Gurunanak Jayanti, and markets will close for Christmas on December 25.
A special feature of the festive period is the Muhurat Trading session. This special Diwali trading session is scheduled for November 12 from 18:00 IST to 19:15 IST (08:30 ET to 09:45 ET). The session allows for token trades marking the ‘new Samvat’, or financial new year. It’s a tradition believed to bring good luck and prosperity, making it an auspicious time for new investments aimed at wealth creation for future generations.
The holiday schedule this year also includes a one-day festival observation gap known as Bali Padyami or Virapratipada. Meanwhile, sectors such as banks, financials, automobile, and consumer stocks are reported to be negatively impacting headline indices.
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