Is Share Market Closed On June 28, Eid-Al-Adha?

While the NSE and BSE calendars marked June 28 as a holiday on the occasion of Eid-Al-Adha or Bakrid, it is not a market holiday. The exchanges on Tuesday, June 27, announced that the market holiday has been pushed a day further to June 29.

What Happened: The Government of Maharashtra has officially announced that June 29, 2023, will be observed as a public holiday. Consequently, the previously declared public holiday on June 28, 2023, has been revoked.

As a result, all activities involving government securities, foreign exchange, money markets, and rupee interest rate derivatives will be suspended on June 29, 2023. Any pending transactions scheduled for June 29, 2023, will be rescheduled to the subsequent working day, which is June 30, 2023.

The expiry of all existing F&O contracts of Nifty and Nifty Bank contracts will take place on Wednesday, instead of Thursday, while Nifty Midcap derivative contracts will expire on Wednesday, as usual.

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As for the commodity market, trading will only be available during the evening session starting from 5:00 pm onwards on June 29. Banks will be closed on both June 28 and June 29.

The next market holiday is on August 15, on the occasion of Independence Day.

Markets On June 27: After a muted start to the week, the share market jumped up sharply on Tuesday. Both benchmark indices Nifty 50 and the Sensex ended the day in green. The Nifty 50 was up 0.68% to close at 18,817.40, while the Sensex surged 446 points to end the day at 63,416.03.

The surge today was primarily led by financial and IT stocks. The Nifty Bank index soared over 1% to 44,121.50 powered by the uptick movement in the HDFC twins. The surge in HDFC came as Deepak Parekh told CNBC TV-18 that the merger will be effective from July 01. Shares of HDFC will go off the market on July 13.

The Nifty IT index was up 0.73% to end the day at 28,800.15. Stocks of IT giants TCS, Infosys, and Wipro all ended the day in the green.

The day was filled with exciting market updates. Shares of Tata Motors were upbeat, as its subsidiary Tata Technologies got SEBI’s nod for an IPO. Hindustan Aeronautics also saw a share bump as the company’s board announced a 1:2 stock split and dividend.

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