No trading on Friday: Why BSE and NSE are shut and what it means for settlements
Equity markets are set for a long weekend amidst the busy earnings season.There will be no trading for three consecutive days as Indian stock markets will be closed on Friday, May 1.
May 1 is celebrated as Maharashtra Day and even Buddha Purnima is also being celebrated the same day this year. As a result, stock exchanges will remain shut today.
What all markets are closed?
Asia’s oldest stock exchange, the Bombay Stock Exchange is closed. The National Stock Exchange is shut as well.
It’s not just equity markets, but currency derivative markets too are closed today. This means investors cannot trade in shares, stocks, or any other form of securities. So in case you placed an order yesterday, under the T+1 settlement cycle it will be settled on the next working day, which is Monday, May 4.
What about MCX and NCDEX?
The Multi Commodity Exchange (MCX), will observe partial closure on May 1, as trading will remain suspended for its morning session (9:00 AM to 5:00 PM IST). However, the exchange will resume trading for its evening session (5:00 PM to 11:30 PM IST), and the prices will align with the global cues.
Earnings and dividends not affected
While the stock exchanges observe closure, the Q4 earnings season will not lose its momentum as companies will declare their quarterly and full-year annual results as per their regular schedule. If a company has set May 1 as the record date for asserting the shareholders eligibility, you will still receive the dividend.
Defence equipment manufacturers, Zen Technologies will announce its result today and the company’s board may also recommend a dividend. While Jindal Steel and Punjab Chemicals and Crop Protection will also announce their Q4 financials too, and the latter may also recommend a dividend for FY26.
Banks closed on May 1
Banks across majority cities of the country are closed too for the occasion of Buddh Purnima and Maharashtra Day. So in case you have any important appointments scheduled, better get them done on the weekend as financial institutions will remain open on Saturday, May 2 following their regular working cycle.