Is Share Market Closed On Tuesday, April 9 For Gudi Padwa And Ugadi?

On April 9, the NSE and BSE, India’s main stock exchanges, will be open as usual. However, with banks shut across several states including Maharashtra, Tuesday will be a settlement holiday because of Gudi Padwa and Ugadi, meaning any stocks you buy that day won’t show up in your Demat account until April 10.

What Is A Settlement Holiday? In India, a T+1 basis governs trade settlement. This means the settlement of a stock trade happens one day after the trade. For example, if you buy a stock on Monday, it settles by Tuesday. Similarly, the settlement of a stock sold on Monday occurs on the next working day.

Settlement Holidays push the share deposit in the Demat account back by one day, effectively adding an extra working day to the settlement process. Depositories close or observe these holidays on bank holidays, and April 9 is one such bank holiday.

The Indian Clearing Corporation Limited (ICCL) lists the next unusual settlement holiday, which does not align with a stock market holiday, as May 23. Depositories will observe this day as a holiday due to Buddha Purnima.

See also: LIC-Backed Stock Soars 17% To Lead Nifty 500 Gainers

Markets on April 8: Indian benchmark indices reached new all-time highs on Monday, April 8, driven by anticipation of the earnings season and positive signals from global counterparts.

On Monday, the Nifty and Sensex indices closed at new highs, propelled by positive global signals and investor interest in IT and auto sectors. The Bank Nifty also reached a new high, fueled by investor optimism ahead of the expected political continuity from the upcoming Lok Sabha elections, which is anticipated to maintain economic momentum.

The Sensex climbed 476.12 points or 0.64% to close at 74,724.34, while the Nifty increased by 147.30 points or 0.65% to end at 22,661. Around 1,695 shares moved forward, 1,721 shares fell, and 118 shares remained steady.

In terms of sectors, energy, realty, and metals sectors saw the most significant gains. Out of the 15 Nifty sectoral indices, 12 ended in the green. The oil & gas and realty indices each rose over 1%, with the Auto and IT indices also experiencing significant buying.

However, selling pressure in public sector banks dragged the Nifty PSU index down. The Infra index also recorded losses.

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Posted In: EquitiesMarketsMarket HolidaysSettlement holidays