Guru Nanak Jayanti 2022: Is Gurpurab A Bank And Stock Market Holiday? Find Out
Find out if today the banks and stock market remain closed on the occasion of Guru Nanak Jayanti.
Today, i.e. November 8, 2022, marks an auspicious day for many people around the nation. While some celebrate Guru Nanak Jayanti, some celebrate Kartika Purnima and others celebrate Rahas Purnima. But does that mean it’s a Bank Holiday or a Stock Market Holiday? Let’s find out.
Bank Holiday On Guru Nanak Jayanti 2022
According to the list of holidays published by the Reserve Bank Of India(RBI), today i.e. November 8, 2022, is a Bank Holiday on the occasion of Guru Nanak Jayanti/Kartika Purnima/Rahas Purnima. However, it is a state-specific holiday. This means that the banks will be closed in several states, while in some states it is business per usual.
As mentioned on the RBI website, on November 8, 2022, banks will remain closed in Aizawl, Belapur, Bhopal, Bhubaneswar, Chandigarh, Dehradun, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Shimla and Srinagar. Meanwhile, banks will be open as usual, even on Guru Nanak Jayanti, in Agartala, Ahmedabad, Bengaluru, Chennai, Gangtok, Guwahati, Imphal, Kochi, Panaji, Patna, Shillong and Thiruvananthapuram.
According to the RBI website, the holiday on Guru Nanak Jayanti falls under the category of “Holiday under Negotiable Instruments Act”. Meanwhile, the other two categories are “Holiday under Negotiable Instruments Act and Real Time Gross Settlement Holiday” and “Banks’ Closing of Accounts”.
In fact, there’s another bank holiday coming up on November 11, 2022, for Kanakadasa Jayanthi/Wangala Festival in the same category as today’s holiday. However, on this day banks will only be closed only in Bengaluru and Shilong, while it remains open in every other circle.
Trading Holiday On Guru Nanak Jayanti 2022
According to the list of “Trading Holidays for 2022” published on the official BSE website, today, i.e. November 8, 2022, is also a trading holiday on the account of Guru Nanak Jayanti. This means that the Indian stock market will remain closed and no trading will be happening on BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) for the entire day.
The trading holidays mentioned on the BSE website are categorized into 4 segments, namely:
Equity Segment, Equity Derivative Segment and SLB Segment.
Currency Derivatives Segment and Interest Rate Derivatives Segment.
New Debt Segment – Reporting, Settlement and Trading (NDS-RST) and Tri-Party Repo.
Commodity Derivatives Segment.
The stock market remains completely closed for the first three segments. This means, today, Equity Segment, Equity Derivative Segment and SLB Segment trading will remain suspended throughout the day. The Currency Derivatives Segment and Interest Rate Derivatives Segment will be closed as well. And New Debt Segment – Reporting, Settlement and Trading (NDS-RST) and Tri-Party Repo won’t see any action either.
However, for the fourth segment i.e. the Commodity Derivatives Segment, the market will be partially opened. While it remains closed in the Morning session which happens from 9:00 am to 5:00 pm, it will later open up for the Evening session which happens from 5:00 pm to 11:30/11:55 pm.
The first and fourth segment marks Guru Nanak Jayanti as the 13th national trading holiday. Meanwhile, in the second and third segments, it is marked as the 16th national trading holiday. In either case, it is the last national trading holiday mentioned in the list.
The last time BSE and NSE remained closed was on the occasion of Dussehra, Diwali and Diwali Balipratipada in the month of October. Similar to those days, the Indian Stock Market will remain shut today, and will start operating as usual from tomorrow i.e. November 9, 2022.
Conclusion
Today is not just a bank holiday and stock market holiday on the occasion of Guru Nanak Jayanti. Today also marks the last Lunar eclipse of the year. So, take a break from banking and trading, and go check out the lunar spectacle.