Mixed Reactions From Netizens To Saturday's Full-Day Trading Surprise

Traders and investors were mixed in their reactions to a special full-day of trading on Saturday and a market holiday on Monday.

What Happened: The Securities and Exchange Board of India announced late on Friday that the equities market would be open on Saturday for a full session of trading. However, currency and commodity markets will remain closed.

Many on social media platform X said the last-minute notice from SEBI would cause unnecessary hassle for traders.

Market timings (for Saturday) could have been changed & announced earlier. Unnecessary drama, heartburn & I'am sure inconvenience to many entirely avoidable !#stockmarkets #Nifty
— Prashant Nair (@_prashantnair) January 19, 2024

A state like Maharashtra, which is home to the country's financial markets – equities, bonds, fx , central bank, market regulator, should realise the confusion it causes by changing holidays last minute.

This isn't the first time it's happened. We have had other instances…
— Ira Dugal (@dugalira) January 19, 2024

Moreover, adding to the confusion, mutual funds would not accept subscriptions as it is a non-business day for asset managers, adding to the confusion.

One X user also said that many traders may have made other plans for the weekends and would likely miss out on a session of trading due to the lack of previous intimation.

What's with #SEBI #NSE #BSE !!! The declare at 8.35 PM today that the markets will work and operate tomorrow on Saturday, and shut on Monday. How can you do this at this time. Many traders have left for the weekend and are stuck now. All traders should boycott trading.
— Bony Uppal (@bonyuppal) January 19, 2024

Others, however, defended the move, comparing it to the hour of Muhurat trading during Diwali.

As always some people are upset that stock exchanges are trading on Saturday in lieu of Monday Jan 22 and feel this is a case of Hinduism entering secular sphere.

There was Diwali Muhurat Trading and we kicked off Samvat 2080 in Nov'23. That is based on Chinese calendar or what?
— Halley (@halleyji) January 20, 2024

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Mixed Reactions From Netizens To Saturday's Full-Day Trading Surprise

Comments