Equity Markets To Stay Open On Jan. 20, Closed On Jan. 22
The markets will remain shut on Monday in line with the closure in the currency and bond markets announced by the Reserve Bank of India earlier in the day.
Equity and derivatives markets will have normal working hours from 9:15 a.m. to 3:30 p.m. on Saturday, without the planned disaster recovery movements, according to information shared by NSE with NDTV Profit.
The markets will remain shut on Monday, according to the NSE, in line with the closure in the currency and bond markets announced by the Reserve Bank of India earlier in the day.
Commodity markets will be functional on Monday from 5 p.m. onwards.
The national bourses had earlier planned two special live trading sessions on Jan. 20 as part of plans to switch over to a disaster recovery site.
RBI announced that short-term money markets, forex, and gilts market will remain shut on Monday. The regulator had previously declared truncated trading hours from 2.30 p.m. to 5 p.m.
Accordingly, the reversal of 3-day variable rate repo auction will be on Tuesday, and Monday's 3-day variable rate repo auction for Rs 1.25 lakh crore stands cancelled. There will be a separate announcement on 2-day variable rate repo auction to be held on Tuesday, RBI said.
The settlement of all outstanding transactions will accordingly get postponed to the next working day which is Jan. 23, according to RBI's press release.
The Maharashtra government has declared Jan. 22 as a public holiday.
Public sector banks, insurance companies, financial institutions and Regional Rural Banks across the country will remain closed for half-day on Jan. 22.
The Department of Personnel and Training has also issued an order for a half-day closure for central government establishments on Jan. 22.
Indian markets will have truncated functioning next week, with trading happening only on Tuesday, Wednesday and Thursday. Jan. 26 is a public holiday on account of Republic Day.
