The Indian inventory markets are more likely to be shut on May 20, 2024 on account of Lok Sabha elections. Voting in India’s monetary capital is slated for that date and whereas there isn’t a official affirmation but, the bourses have been closed in 2014 and 2019 throughout polling day.

This is in-line with the Section 25 of the Negotiable Instruments Act 1881, which recognises the significance of residents’ participation within the electoral course of.

ALSO READ: 2024 Lok Sabha Polls phase 1 date: Check schedule, state-wise and constituency-wise details

The 2024 Lok Sabha elections will absorb a single part – Phase 5 – on May 20. There are six Lok Sabha seats in Mumbai metropolis and Mumbai suburban. These embrace Mumbai North, Mumbai North-West, Mumbai North-East, Mumbai North-Central, Mumbai South-Central, and Mumbai South.

The elections for Thane, Kalyan, Bhiwadi, and Palghar seats will even happen within the fifth part. The date of vote counting is scheduled on June 4, 2024.

In 2014 and 2019, the Indian inventory exchanges BSE and NSE had introduced a buying and selling vacation. Forex and cash markets have been additionally closed through the voting day on these years.

ALSO READ: Maharashtra Lok Sabha election dates 2024: Voting to be in five phases from April 19 to May 20

Queries have been despatched out to BSE and NSE, however they declined to remark.

On March 15, Sensex and Nifty closed as much as 0.6 % decrease at 72,643 and 22,023, respectively.

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