Indian stock markets closed for Lok Sabha elections on May 20, 2024

Today, on May 20, 2024, the Indian stock markets, including the BSE Sensex and Nifty50, are closed for trading due to the Lok Sabha elections in Mumbai. This closure extends to all segments, such as equity, derivatives, and SLB.

While the Multi-Commodity Exchange (MCX) will be closed for the morning session, it is expected to operate during the evening session. Additionally, the markets will observe closures on various upcoming dates in 2024, including Bakri Id (June 17), Muharram (July 17), Independence Day (August 15), Mahatma Gandhi’s birthday (October 2), Diwali (November 1), Gurunanak Jayanti (November 15), and Christmas (December 25).

In recent trading sessions, Indian equities participated in two special sessions aimed at testing the systems’ response to unforeseen events. This initiative follows a thorough examination by the markets regulator of the NSE and BSE after a significant trading outage on February 24, 2021, caused by a technical glitch.
During the last trading session, the NSE Nifty 50 closed 0.16% higher at 22,502, while the S&P BSE Sensex gained 0.12% to reach 74,006. Both benchmarks traded within a narrow range, with the Nifty breadth favoring bulls.

Notable gainers in the previous session included Nestle India, Power Grid, Tata Motors, Adani Ports, and Hindalco, while JSW Steel, M&M, UltraTech Cement, LTIMindtree, and Maruti Suzuki were among the top losers.