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There will be no trading activity in the Indian stock market today i.e. on 2nd October. Both the major stock exchanges of the country—Bombay Stock Exchange (BSE) and National Stock Exchange (NSE)—have been completely closed in observance of the national festival of birth anniversary of Father of the Nation Mahatma Gandhi. No buying or selling can be done in the equity segment, equity derivatives, currency derivatives and Security Lending and Borrowing (SLB) segments on this day. From retail investors to large institutional investors, today is an opportunity to take a break from trading and review their upcoming strategies.
If you actively trade intraday or delivery based trades in the stock market, none of your new orders will be executed today. Apart from this, brokerage firms and clearing corporations will also take forward the settlement process today, due to which the cycle of fund pay-in and pay-out will proceed smoothly from the next business day.
For investors trading in commodity markets, the schedule is slightly different than usual. Multi Commodity Exchange (MCX) and National Commodity and Derivatives Exchange (NCDEX) operate in two separate sessions on national holidays. The morning session, which usually runs from 9:00 am to 5:00 pm, is completely closed on Gandhi Jayanti.
Talking about the evening session, trading is sometimes allowed from 5:00 pm to 11:30 pm or 11:55 pm to track the price trends of gold, silver and crude oil in the international markets, while on some major national holidays both the sessions are completely suspended. Therefore, commodity traders should plan their orders only after seeing the official circular list of the exchange.
If you are planning to buy new shares or make new entries in your portfolio, you will have to wait for the next trading session. As per the weekly calendar and holiday list, the stock market will reopen as per its regular timetable:
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Pre-Opening Session: 9:00 AM to 9:15 AM Order Matching and Price Discovery.
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Regular Trading Session: Normal buying and selling from 9:15 am to 3:30 pm.
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Post-Closing Session: Closing price adjustment from 3:40 pm to 4:00 pm.
When the market opens, investors will keep an eye on global cues, US Federal Reserve statements, international crude oil rates and initial announcements of quarterly results (Q2 Earnings Season).
The market being closed does not mean that as a conscious investor you should sit completely inactive. Whether you are trading from Lucknow, Kanpur, Delhi, Ahmedabad or Mumbai, holidays are considered the best time to audit your current portfolio. Often during the live market, investors take quick decisions due to emotions, but when the market is closed, you can objectively assess your profits, losses and risk-reward ratio without any pressure.
During this holiday, you can prepare a watchlist of fundamentally strong companies which are available at attractive valuations after the recent decline. If we look at it sector-wise, then studying the technical charts and support-resistance levels of sectors like Banking, Auto, IT and FMCG will directly help you in taking accurate and measured decisions in the next session.
The month of October is the main time of Indian festivals, due to which other holidays are also seen in the market in this month. Stock markets remain closed on different days even on major festivals like Dussehra (Vijayadashami), Diwali (Lakshmi Pujan) and Balipratipada. However, a special 1-hour ‘Muhurat Trading’ session is held in the evening on Diwali, which is considered extremely auspicious for the beginning of the new Samvat and new investments. Investors must keep this entire holiday calendar in mind while planning fund allocation in their trading and demat accounts to avoid problems like margin shortfall.