Stock Market Holiday Today: Voting is going on in the country’s financial capital Mumbai, so a holiday has been declared today in both the stock exchanges BSE and NSE.
NSE-BSE Holiday: There will be no trading in both the stock exchanges of Indian share market, BSE and NSE, on Wednesday, November 20, 2024. In view of the Maharashtra Assembly Elections 2024, voting is being held in all 288 seats of the state including Mumbai. Due to this, the stock market will remain closed today. Apart from equity, there will be no trading in the derivatives segment.
Stock market eyes on Maharashtra election results
The stock market is eyeing the results of the assembly elections in Maharashtra and Jharkhand. Especially the capital of Maharashtra, Mumbai, is the economic capital of the country, so everyone from the stock market to the industry is keeping an eye on the Maharashtra Legislative Assembly. Foreign brokerage house Nomura has said in a note that a close contest is seen in the Maharashtra assembly elections. However, the brokerage house believes that the populist announcements made by the BJP-led Mahayuti government before the announcement of the election dates may benefit the alliance. The counting of votes will take place on 23 November 2024 and on that day the picture will be clear whether the Mahayuti government will be formed in Maharashtra or the Maha Aghadi (MVA).
FII selling continues
Earlier on Tuesday, 19 November 2024, the stock market saw a great boom. But in the last hour of trading, due to the escalation of tensions between Russia and Ukraine, the market lost its gains due to heavy selling by foreign investors (FII). In Tuesday’s session, foreign investors sold shares worth Rs 3411 crore while domestic institutional investors (DII) bought shares worth Rs 2783.89 crore. After October 2024, the selling by foreign investors continues in the month of November. In the first fortnight of November, foreign investors have sold shares worth Rs 22420 crore.