The multi-commodity exchange will also be closed for the first half but will remain open for the evening session from 5:00 pm. Trade settlements will also be closed on Tuesday.
The settlement holiday means that the commodity account balance of investors on November 14 will not include the credits from profits on trades or positions in commodity derivatives on November 13 and credits from exiting option positions on November 13.
The funds withdrawn on November 14 will be processed on November 15 and investors will receive the funds on November 16.
Similarly, profits and credits received from trades or exiting positions in the derivatives segment (F&O and CDS) on November 13 will be available for withdrawal on November 15.
In the entire calendar year, equity markets have 15 annual holidays in 2023, two more than last year.
After a strong start to Samvat 2080 in the Muhurat session, benchmark indices declined on Monday as investors turned cautious ahead of domestic inflation data.”Post-Diwali, Indian equities continued consolidation amid global uncertainty. The market’s downside is limited by strong earnings, economic stability, and domestic institutional flows,” said Vinod Nair, Head of Research at Geojit Financial Services.
In the truncated trading week, analysts expect the market to consolidate in a broader range due to a lack of major events and the second-quarter earnings season coming to an end.
However, in the near term, analysts expect the bullish momentum to continue.
“We believe India would continue to shine and expect markets to maintain its outperformance in Samvat 2080. Over the next couple of quarters, sector rotation will be an important driver along with the overall market uptrend,” said Motilal Oswal, MD and CEO, Motilal Oswal Financial.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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