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- BSE, NSE, Stock Market Be Closed Today For Mumbai Elections, Monday, May 20
Mumbai2 hours ago
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The stock market will remain closed on Monday due to Lok Sabha elections. Voting for Lok Sabha elections is to be held in Mumbai today. In such a situation, there will be no trading in the stock market on this day. This decision has been taken to ensure participation of citizens in the elections under Section 25 of the Negotiable Instruments Act 1881.
On April 8, stock exchanges NSE and BSE had announced a stock market holiday in Mumbai due to voting on May 20. The Election Commission had announced last month that Lok Sabha elections in Maharashtra will be held in five phases on April 19, April 26, May 7, May 13 and May 20.
There will be no trading in equity derivatives
NSE had said in the circular that there will be a trading holiday on Monday, May 20, 2024 due to parliamentary elections in Mumbai. According to the circular, there will be no trading in equity, equity derivatives and securities lending and borrowing segments on this day.
Voting will be held on May 20 in Dhule, Dindori, Nashik, Bhiwandi, Kalyan, Thane, Mumbai North, Mumbai North West, Mumbai North East, Mumbai South, Mumbai South Central, Mumbai North Central and Palghar Lok Sabha seats. The date of counting of votes has been fixed as June 4, 2024.
There was trading in the market even on Saturday, a holiday.
There was trading in the stock market even on Saturday (May 18), a holiday. A slight rise was seen in the market. The Sensex closed at 74,005 with a gain of 88 points. There was also a rise of 35 points in Nifty, it closed at the level of 22,502. Out of 30 Sensex stocks, 21 saw a rise and 9 saw a fall. However, as usual, the stock market was closed on Sunday due to holiday.
Two special live trading sessions took place in the market
Two special live trading sessions took place in the stock market on Saturday. The first phase will be a 45-minute session, which will start at 9:15 am and end at 10:00 am. The second special live trading session started at 11:45 am and continued till 12:30 pm. This was done to test the disaster recovery site.
Testing to handle primary site failure
According to the stock exchange, this special live trading session has been conducted with intra-day switch from the primary site to the disaster recovery site in the equity and equity derivatives segments.
By doing this, the preparedness of the primary site to handle major disruption and failure was examined. There will be an intra-day switch from the Primary Site (PR) to the Disaster Recovery (DR) site in the special live trading session.
The disaster recovery site is used to recover data from the most recent backup. If the primary location and its systems fail due to an unexpected event, it can be switched to the recovery site.
A DR site is essential for all critical institutions like exchanges, so that if any outage affects the functioning of Main Trading Center in Mumbai, the operations can be carried out smoothly without any interruption.
