The multi-commodity exchange will also be closed for the first half, but will remain open for the evening session from 5:00 pm. Trade settlements will also be closed on Monday.
The settlement holiday means that the commodity account balance of investors’ on November 24 will not include the credits from profits on trades or positions in commodity derivatives and credits from exiting option positions.
The funds withdrawn on November 24 will be processed on November 28 and investors’ will receive the funds on November 29.
Similarly, profits and credits received from trades or exiting positions in the derivatives segment (F&O and CDS) on November 24 will be available for withdrawal on November 28.
In the entire calendar year, equity markets have 15 annual holidays in 2023, two more than last year.
Equity benchmark indices Sensex and Nifty closed with modest losses for the second straight session on Friday, following selling in IT stocks amid a lack of fresh buying triggers.The market was largely quiet this past week, with no significant changes in the headline indices. However, there was some stock-specific activity.
The rangebound activity in secondary activity was partly due to investors shifting funds to primary market, which saw five IPOs raising as much as Rs 7,500 crore.
Analysts expect the market to see some direction this week and increased volatility as month F&O expiry of November approaches.
On November 30, exit polls for the state elections will be revealed, along with India’s GDP for the third quarter. Monthly auto sales for November will follow on December 1, with particular attention paid to Diwali sales figures.
While global cues are relatively muted, market participants will closely monitor movements in crude oil prices, US bond yields, and the dollar index.
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