Stock market likely to be shut on May 20 due to Lok Sabha election
Lok Sabha polls in Maharashtra will be held in five phases on April 19, April 26, May 7, May 13 and May 20, the Election Commission announced on Saturday.
With Mumbai scheduled to vote on May 20 for the Lok Sabha elections, stock exchanges and are likely to declare it a as was seen during the 2014 and 2019 poll. Local governments declare a holiday in voting days under the Negotiable Instruments Act 1881.However, there is no official confirmation of the holiday yet from bourses.
Lok Sabha polls in Maharashtra will be held in five phases on April 19, April 26, May 7, May 13 and May 20, the Election Commission announced on Saturday.
On May 20, voting would be held in the Lok Sabha seats of Dhule, Dindori, Nashik, Bhiwandi, Kalyan, Thane, Mumbai North, Mumbai North West, Mumbai North East, Mumbai South, Mumbai South Central, Mumbai North Central and Palghar.
The market would also be shut on May 1 to mark Maharashtra Day. Prior to that, there are four other scheduled holidays for Dalal Street -Holi (March 25), Good Friday (March 2029), Ramzan Id (April 11) and Ram Navami (April 17).
The last week of March will be among the shortest trading weeks this calendar year with only three working days. Earlier in January, the third week of January had just three trading days due to Ram Mandir Inauguration and Republic Day.
On March 25, which is a Monday, markets will be shut for Holi. This market holiday is preceded by a Saturday and Sunday, giving investors three days off. The fourth long weekend of March will be on account of Good Friday, celebrated on March 29 (Friday).
Source: Stocks-Markets-Economic Times
