Bank Holidays Update: The situation in Western Asia remains tense due to the ongoing fierce conflict involving the US, Israel, and Iran. The impact of this conflict is being felt across nations worldwide, significantly disrupting import and export activities. Consequently, a state of volatility persists in both the stock and bullion markets.
In India, a decline in gold and silver prices was recorded on the first trading day of this business week. However, looking at the last two days, an upward trend has been observed in gold rates. The market—which had been under pressure due to this continuous surge—received a one-day respite on the 26th owing to a market holiday
Trading remained suspended throughout the day at both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). No trading activity took place today across any segment, including equities, equity derivatives, currency derivatives, and securities lending.
Both Exchanges to Resume Operations from March 27 (Today)
The morning session at the Multi-Commodity Exchange (MCX) is scheduled to remain completely closed. The evening session, however, will be open from 5:00 PM to 11:30 PM. The National Commodity and Derivatives Exchange (NCDEX) remained completely closed for both its morning and evening sessions.
Furthermore, normal trading operations will resume at both exchanges starting March 27. Subsequently, trading days will be reduced in the coming days due to weekends and festival holidays. The stock markets will remain closed on March 26 on the occasion of Ram Navami, and again on March 31 for Mahavir Jayanti.
Upcoming Stock Market Holidays
There are two more stock market holidays scheduled for the coming week in March. The BSE and NSE will remain closed on March 31 on account of Mahavir Jayanti; trading will resume on April 3 for Good Friday. Later in April, the market will remain closed on the 14th to observe Dr Baba Saheb Ambedkar Jayanti.
Additionally, the NSE and BSE will observe two trading holidays during the month of May. Last Wednesday, the Indian stock market witnessed robust gains, driven by a rally in global markets and hopes for a peace agreement between the United States and Iran.
Banks to Remain Open for Just One Day Until the 31st
Banking operations are significantly impacted during the final month of the financial year. On March 27, banks in several states are observing a holiday on account of Ram Navami. The previous day, March 26, was also a holiday due to this festival.
Banks will remain closed on the 28th—being the fourth Saturday of the month—and on the 29th, due to the Sunday holiday. Banks are scheduled to remain open on March 30. However, on the very next day, banks will remain closed for Mahavir Jayanti. In total, banks will observe holidays on four days leading up to March 31.
