Is Stock Market working on 16th August (Parsi New Year)?

Tanushree Jaiswal 28th September 2023 - 05:58 pm

The upcoming holidays on August 15th and 16th, 2023, will have significant implications for traders and investors. These dates mark a trading holiday on account of Independence Day and a settlement holiday due to Parsi New Year. Here's what you need to know about the impact on your trades and transactions.

August 15th: Trading Holiday - Independence Day

On August 15th, all exchanges, including MCX, will remain closed in observance of Independence Day. This means that trading activities across various segments, including Equity, Derivatives, Currency, and Debt, will be suspended for the day.

August 16th: Settlement Holiday - Parsi New Year

August 16th, 2023, is designated as a settlement holiday due to the Parsi New Year. While trading will be possible for most segments, clearing and settlement activities will be closed for Payin and Payout of stocks and funds. Notably, the Currency Segment will also be closed for trading on this day.

Impact on Trades and Settlements:

Credit bills for all segments generated on August 14th will not be tradable or withdrawable on August 16th. Additionally, account balances on August 16th will exclude certain credits, including intraday profits from the Equity segment on August 14th and credits from trades made in NFO, Currency, and Commodity derivatives on the same day.

Understanding Settlement vs. Trading Holidays:

Settlement holidays are when trading can happen in most market sections, except for currency trading. However, banks or depositories are closed on these days. As a result, any trades made on these days will be settled during the next scheduled settlement period based on the specific market rules.

Click here to see the future Share Market Holidays

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Tanushree Jaiswal

Disclaimer: Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

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