Indian Markets Closed for Maharashtra Polls; Commodity Trading Opens Early
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Summary: BSE and NSE will be off for municipal elections; commodities begin at 5 pm.
India’s main stock exchanges, the BSE and NSE, will remain closed on January 16 as the state of Maharashtra holds its municipal elections, the exchanges announced on Thursday. The closure affects equity and derivatives trading, giving traders a break in the middle of the week.
Instead of the usual session, only commodity and currency derivatives will be active, with trading on these segments starting early at 5 pm on Friday. This timing shift aims to give commodity market participants a chance to react to global price movements before the weekend.
India has a long-standing practice of closing down the stock market on election days so that investors and exchange staff can fully participate in the democratic process. This decision to close the market follows this tradition.
For regular equity investors, this means no buying or selling of stocks or stock derivatives on Friday. However, those following commodities like crude oil, gold and agricultural products can still place trades once the evening session begins.
Market participants usually see such holidays as routine, but many watch global cues and price trends closely during the interim, especially when commodity markets are open. The early start at 5 pm IST lets traders in India align with price movements happening in overseas markets as Asia and Europe wind down their sessions.
For now, attention will shift back to equities when the BSE and NSE reopen on Monday, with investors looking for fresh triggers after the long weekend break. Then, trading may become busier and more volatile, especially if macroeconomic data or company earnings reports come out in the next few days.
