Will the Stock Market Be Open on May 20 During Lok Sabha Elections Phase 5?

BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) will be closed on Monday, 20 May 2024 due to the fifth phase of voting for the Lok Sabha Election in Mumbai. Trading will be halted for the equity, equity derivatives, SLB and currency derivatives segments. This closure results in a two day break for the stock markets including both Sunday, 19 May and Monday, 20 May.

In an unusual move the stock markets will remain open for a special live trading session on Saturday, 18 May. This session is necessary due to the switch from the primary site to the disaster recovery site.

Earlier this month the stock markets observed a holiday on 1 May, for Maharashtra Day. This day commemorates the establishment of the state of Maharashtra on 1 May 1960 following the linguistic reorganization of Indian states.

Lok Sabha Elections in Maharashtra

Lok Sabha elections in Maharashtra are being conducted in five phases. The first four phases were held on 19 April, 26 April, 7 May and 13 May. The final phase in the state is scheduled for 20 May with vote counting set for 4 June. On 20 May voting will occur in 13 out of the 48 Lok Sabha constituencies in Maharashtra, including:

Banks in Maharashtra will also be closed on May 20 due to the election.

Market Performance in May

From 1 May to 16 May 2024 both Sensex and Nifty benchmarks have faced selling pressure with the volatility index reaching all time high levels. Foreign Institutional Investors or FIIs have sold off contributing to market woes. So far in May Sensex has dropped by 947.39 points or 1.3% while Nifty 50 has fallen by 244.35 points or 1.08%. Foreign Portfolio Investors or FPIs have withdrawn up to Rs 27,619 crore from Indian equities this month bringing the year to date outflow to Rs 25,397 crore. The 30 scrip benchmark Sensex currently stands at 73,663.72 and Nifty 50 is at 22,403.85. India's VIX index is at 20.

Upcoming Stock Market Holidays in 2024

The following are the remaining stock market holidays for 2024: 

Check the list of upcoming Stock Market Holidays