look news india
Maharashtra Day is celebrated every year on the first day of May i.e. 1st May. There is a government holiday in the state of Maharashtra on this occasion. Since both the major domestic stock exchanges BSE and NSE are located in Mumbai (Maharashtra). For this reason, both major domestic stock markets remain closed on government holidays in Maharashtra. This is the reason why today, May 1, both the markets are closed on the government holiday of Maharashtra Day.
On this day the state of Maharashtra was established
The state of Maharashtra was established on 1 May itself. After permission was given to form new states on linguistic basis in the country, a new state named Maharashtra came into existence on 1 May 1960. Maharashtra Foundation Day or Maharashtra Day is celebrated every year on 1 May to commemorate this event. It is a public holiday throughout Maharashtra. Not only the stock markets are closed on this occasion, but all the government offices and bank branches of the state of Maharashtra are also closed. That means today is a bank holiday in Maharashtra also.
More holidays in May
There are more holidays in the stock market in May. There will be no trading in the local stock market even on 20th (Monday) during the month. This will be the second holiday of the month of May. Actually, under the fifth phase of the general elections 2024, voting is to be held on May 20 on all the six Lok Sabha seats of Mumbai. In such a situation, there will be no trading in the stock market on that day.
Total 14 holidays in a month
There will be a total of 14 holidays including weekly holidays in the local stock market during the month of May. The market will be closed on May 4, May 11, May 18 and May 25 due to Saturday, while there will be no trading on May 5, May 12, May 19 and May 26 due to Sunday. The market is also closed due to Maharashtra Day on 1st May and voting on 20th May.
BSE-NSE remained closed today on the occasion of 1st May i.e. Maharashtra Day.