Stock Exchanges in India will remain closed on 15 October 2014 due to Assembly Elections in the State of Maharashtra. All leading exchanges like NSE, BSE, MCX and NCDEX are located in Mumbai, in the state of Maharashtra. During Election Day, compulsory holiday is observed by all organizations and companies located in the jurisdiction of elections.
In the previous trading holidays list for the year 2014 , this holiday is not included. In modification to the earlier trading holidays lists this trading holiday is added now.
Please note that at the time of writing this article, only BSE has issued an official circular for trading holiday on wedenesday, 15 Oct 2014. Please refer BSE Circular for the trading holiday in equity segment. Similarly, trading holiday is declared on BSE for other trading segments like Currency Derivatives, Mutual Fund Segment, Equity Derivatives Segment and other segments traded on the exchange.
Though, official circulars are not yet published by NSE, MCX and NCDEX regarding trading holiday due to Maharashtra assembly elections, a similar circular is expected on monday.
Please refer respective website exchanges to confirm about the trading holiday on that day.
Update on 13 Oct: NSE (National Stock Exchange of India) announced Assembly Elections Trading holiday vide circulars , NSE/CMTR/27800, NSE/FAOP/27802, NSE/CD/27803, NSE/DS/27805 and NSE/WDM/27806. Similarly, NCDEX vide NCDEX/TRADING-147/2014/312 and MCX vide Circular MCX/T&S/327/2014. Both MCX and NCDX will be closed for Morning and Evening Session. No Trading will be carried out in commodities in evening session too.
With this holiday on wednesday, total trading holidays in the month of october are highest at six. As per the earlier trading holiday list, october topped the holiday list with 5 holidays. Due to no of holidays, volatility in the market increases when markets open after long gap and similarly, there is huge premium depreciation for option call buyers in the month of october due to such huge number of holidays.
Although, 23 October 14 is declared as holiday for trading, muhurat trading will be held on exchanges, on the eve of diwali laxmi pujan. Most traders take token position on this auspicious day hoping the coming year will be prosperous. Wish you too a prosperous Trading year ahead.