The state government changed the date for Eid-e-Milad holiday from September 5 to September 8, raising doubts whether stock exchanges, BSE and NSE, will open for trade tomorrow.
According to an official notification by the stock exchanges, the markets will be open for trading, however, there will be a settlement holiday on September 8.
What Is Settlement Holiday?
A settlement holiday is when the stock markets are open, but the trades are not settled as per the normal T+1 cycle because either the depositories (NSDL and CSDL) or banks are closed on that day.
Share Market Holiday: All You Need To Know
- The stock market will be open for trading on September 8. Traders can trade in both NSE and BSE on this day.
- However, after the change in the date of Eid-e-Milad holiday in Maharashtra, there will be a settlement holiday on Monday.
- This means that stocks bought between September 4 and 8 can only be sold on September 9, but will be reflected in the holdings.
- Credit bills drawn between September 4 and 8 for all segments will be available for trading or withdrawal from September 9.
- Regular fund withdrawal requests will be processed only on September 9 (Tuesday).
- Instant withdrawal will not be available on September 8.
- The currency segment will be closed for trading on Monday.
- Liquid and debt mutual fund orders placed after 2 pm on September 5 or September 8 will be processed on September 9.
