Nov 19, 2024 12:35 PM IST
The Maharashtra Legislative Assembly Election will be held in a single phase for 288 seats with 4,136 contesting candidates on November 20, 2024
The Indian stock markets will remain closed on Wednesday, November 20, 2024 because of the state elections in Maharashtra.
Both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will perform no trading or settlement of stocks, derivatives, and securities lending and borrowing (SLB) segments on Wednesday.
This comes after the Election Commission of India (ECI) on October 15, 2024, announced the dates for Maharashtra Legislative Assembly Election which will be held in a single phase for 288 seats with 4,136 contesting candidates.
The vote counting on the other hand, will be done on Saturday, November 23, 2024.
What about the commodity market?
The Multi Commodity Exchange (MCX) will also be closed for the morning session, from 9 AM to 5 PM.
The evening trading session however, will be open for trading, from 5 PM to 11:55 PM. For select agricultural commodities, it is till 9 PM.
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Meanwhile, the National Commodity & Derivatives Exchange (NCDEX), India’s largest agriculture commodity exchange will remain closed.
Since most commodities are traded in futures, all the contracts expiring on November 20, 2024, will get preponed to the previous trading day, which is Tuesday, November 19, 2024.
How did the stock market perform?
The markets closed in the red after the trading session on Monday, November 18, 2024.
The benchmark BSE Sensex fell 241.30 points or 0.31%, settling at 77,339.01, while the NSE Nifty closed at 23,453, which was down by 78.90 points or 0.34%.
When it comes to sectoral indices, the Nifty IT plunged 2.32%, followed by Nifty Media, Pharma, CPSE, and Healthcare indices.
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