NSE Declares Trading Holiday on May 20 Due to Lok Sabha Election in Mumbai

National Stock Exchange made a significant announcement on Monday by declaring a trading holiday on May 20, 2024, with Mumbai set to cast its votes for the Lok Sabha elections.

The Lok Sabha elections in Maharashtra are going to take place across five phases, commencing on April 19, followed by April 26, May 7, May 13, and finally, May 20, as announced by the Election Commission last month.

The NSE’s decision aligns with Section 25 of the Negotiable Instruments Act 1881, which underscores the significance of citizens’ active participation in the electoral process.

In a circular issued on Monday, the NSE officially designated Monday, May 20, 2024, as a trading holiday owing to the Parliamentary Elections in Mumbai, signifying its members to take note of this decision.

On May 20, voting will be conducted in various Lok Sabha constituencies, including Dhule, Dindori, Nashik, Bhiwandi, Kalyan, Thane, Mumbai North, Mumbai North West, Mumbai North East, Mumbai South, Mumbai South Central, Mumbai North Central, and Palghar.

Upcoming Market Holidays

Additionally, the market will remain closed on May 1 in observance of Maharashtra Day. In April, the market will be closed on April 11 on account of Ramadan Eid and on April 17 for Shri Ram Navami.

Check: NSE Trading Holiday 2024

Market Update

Today, the Nifty 50 opened the day at 22,765.10, representing a gap up of around 99 points compared to Monday’s closing levels of 22,666.30. Currently, the Nifty50 is trading at 22,695.30 as of the time of writing. However, it faced selling pressure from the day’s highs and has recently touched a day low. Currently, it is trading at around intraday’s low levels.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.