Indian financial markets will observe a holiday on the account of Bakr Id (Id-ul-Zuha) on Thursday, June 29, instead of Wednesday June 28. Maharashtra's general administration had changed the holiday from June 28 to June 29 in its notice dated Monday, June 28
Following the announcement, the day of expiry of month futures and options (F&O) derivative contracts will take place on Wednesday, June 28, which was earlier on June 29. The National Stock Exchange (NSE) has informed about the same via multiple circulars on Tuesday.
The expiry of all existing contracts of Nifty and NiftyBank contracts will take place on Wednesday, instead of Thursday, while Nifty Midcap derivative contracts will expire on Wednesday, as usual. Contracts for new series, that is the July series, will begin from Friday.
Not only the equity markets, but the currency markets will also remain shut on Thursday and will be working on Wednesday (June 28). Commodity markets will also remain closed on Thursday but trading will resume in the evening session from 5 pm onwards For the commodity derivative segment as well, trading will be unavailable in morning and available in evening.
BSE has listed 15 holidays for equity, equity derivatives, and SLB segments for 2023. The next stock market holiday will fall on August 15, 2023 on the account of Independence Day.
NSE has revised the trading holiday from June 28 to June 29, thus now Nifty Indices Quarterly Rejig should also move to Wednesday from Thursday. The official circular on Rejig date revision is still awaited, said Abhilash Pagaria, Head, Nuvama Alternative & Quantitative Research.
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