Is Share Market Open On March 2?

In an unusual move, Indian stock exchanges BSE and NSE will open their doors for live trading on Saturday, March 2, marking the second instance of a weekend trading session in 2024. This isn’t just any trading day; it’s a critical test of the exchanges’ disaster preparedness, moving beyond mere mock sessions to actual trading, with an eye on how things would pan out in the wake of an unexpected calamity.

What are the stock market timings like on Saturday?

The day’s trading is split into two distinct phases. The morning session kicks off at 9:15 am, running until 10 am, after a brief pre-open period. The afternoon sees a shift to the disaster recovery site, from 11:30 am to 12:30 pm, underscoring the seriousness of this exercise.

What do traders need to keep in mind?

Given the unique nature of the day, traders can expect to navigate through a landscape of tighter restrictions, including a 5% lower price band across all stocks and derivative segments to mitigate risks during this low-volume session. Zerodha, a leading brokerage firm, has cautioned its clients about potential wider spreads and the risks of automatic square-offs not working in their favour.

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Moreover, any financial gains from options sold or intraday equity profits made just before this session won’t count towards available funds, thanks to the settlement holiday.

While the currency and commodity markets take a break, traders are treading lightly. The advice? Keep a close watch on open positions but steer clear of hefty intraday bets. This session is more about checking the pulse of the system than making bold market moves.

For those looking to trade, the mantra is caution. Stick to well-known stocks, consider delivery trades, and avoid the allure of illiquid stocks and options trading, which could see unwelcome surprises due to low volumes and potential stop-loss triggers. Amid this half-day trading experiment, the aim is to navigate the market smartly, keeping unexpected swings and system switches in mind.

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Posted In: EquitiesMarketsMarket holiday