Stock exchanges to remain open on Budget day despite Saturday


NEW DELHI : When finance minister Nirmala Sitharaman presents her second budget on February 1, share markets will remain open like any other weekday in spite of the Saturday holiday. A BSE official told Livemint that the stock exchange will remain open on budget day. It is likely that the NSE will also be open for share trading on budget day as the two stock exchanges in Mumbai follow the same trading calendar.

Besides other holidays, stock markets are shut on Saturdays and Sundays but Dalal Street will remain abuzz with hectic activities on the first Saturday of February.

The 2020-21 budget, for which Prime Minister Narendra Modi is personally having a series of meetings with industrialists and economists, may have some bold initiatives to boost economic growth and revive the country’s sluggish economy. Nirmala Sitharaman has already indicated that a cut in personal income tax rates could be on the cards. Share markets will be keeping a close watch on any relief in long-term capital gains (LTCG) from equity investments.

As at least seven holidays are falling on weekends, stock traders on Dalal Street will get five less holidays in 2020 as compared to the last year. Altogether, both the BSE and NSE will observe 12 holidays in 2020, barring weekends. This month, the stock exchanges had no additional holidays as traders worked even on New Year day when most other capital markets across the world were shut to celebrate the beginning of 2020. In February, BSE and NSE will be shut on 21st for the festival of Mahashivratri.

News Source:- livemint

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