BSE, NSE Operational Today; Public Holiday Announced for January 22 Due to Ram Mandir Event

Market operations at BSE and NSE adjust amidst the Ram Mandir celebration, with trading on January 20 despite a holiday on January 22. RBI modifies money market trading hours and cancels and reschedules auctions. Public sector banks and government establishments are to have a half-day closure on January 22.

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In a noteworthy development, both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) are gearing up for full-fledged sessions on January 20, despite the announcement of a holiday related to the 'Pran Pratishtha' day of Ram Mandir on January 22. This significant decision follows the Maharashtra government's declaration of a holiday in connection with the consecration of the Ram Temple in Ayodhya.

In a circular released by the NSE, it was specified that the currency derivative segment would remain closed on January 22 in observance of the much-anticipated event. Simultaneously, the Reserve Bank of India (RBI) announced a modification to its earlier circular, revealing that money markets would be closed on the same day. Initially, the RBI had scheduled money market trading to open at 2.30 pm instead of the usual 9 am.

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Furthermore, the RBI disclosed alterations to the schedule of the three-day Variable Rate Repo (VRR) auction, initially set with a date of reversal on January 22. The revised plan now entails the reversal occurring on January 23. In a surprising turn of events, the three-day VRR auction slated earlier in the day was canceled, making way for a two-day VRR auction scheduled for January 23.

Adding to the mix, public sector banks, insurance companies, financial institutions, and Regional Rural Banks (RRBs) across the nation will observe a half-day closure on January 22. Aligning with this, the Department of Personnel and Training has issued an order for a half-day closure for central government establishments on the same date.

This series of adjustments in market operations reflects the significance of the upcoming Ram Mandir event and the collective efforts to mark its celebration. Investors and market participants are urged to take note of these changes to ensure seamless financial planning during this period of transition.