BSE And NSE Announce Trading Holiday On November 20 for Maharashtra Assembly Elections

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will observe a trading holiday on November 20, 2024, in light of the Maharashtra assembly elections. Voters will head to the polls on November 20 to elect members to the 288-seat Maharashtra Legislative Assembly, with votes set to be counted on November 23.

Stock Market Impact of Maharashtra Elections and Global Indicators

As India prepares for a key political event, experts anticipate that global economic indicators will play a pivotal role in determining the direction of the markets in the coming days. Key factors to watch include US bond yields, the performance of the US dollar, unemployment claims in the United States, and important manufacturing and services data, including PMI figures.

Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd, highlighted that the impact of high US bond yields and a strengthening dollar following the election results could have a significant influence on emerging markets like India. Moreover, Foreign Institutional Investor (FII) activity remains a key factor driving the sentiment in Indian equities.

Additional Factors to Influence Market Movement

Market experts also pointed to other crucial variables that could shape the stock market’s direction, including:

• The movement of Brent Crude Oil prices
• The rupee-dollar exchange rate

Both of these factors will be closely monitored by traders as they assess the global economic landscape.

Why Is the Market Closed on November 20?

The trading holiday on November 20 is in observance of the Maharashtra assembly elections, a significant political event that could affect investor sentiment and market volatility. While stock exchanges will remain closed for the day, investors and analysts will be watching the election results closely, as well as the impact of global economic data on the Indian markets.

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