NSE-BSE Holiday: There will be no trading in both the Indian stock exchanges BSE and NSE on Wednesday, November 20, 2024. In view of the Maharashtra Assembly Elections 2024, voting is taking place on all 288 seats of the state including Mumbai. Due to this the stock market will remain closed today. Apart from Equity, there will be no trading in the Derivatives Segment.
Stock market keeps an eye on Maharashtra election results
The stock market is eyeing the results of the assembly elections in Maharashtra and Jharkhand. Especially Mumbai, the capital of Maharashtra, is the economic capital of the country, hence everyone from the stock market to the industrial world has their eyes fixed on the Maharashtra Assembly. Foreign brokerage house Nomura has said in one of its notes that a close contest is visible in the Maharashtra Assembly elections. However, the brokerage house believes that the alliance may benefit from the populist announcements made by the BJP-led grand alliance government before the announcement of election dates. Counting of votes will take place on 23 November 2024 and on that day the picture will be clear whether Mahayuti or Maha Aghadi (MVA) government will be formed in Maharashtra.
FII selling continues
Earlier on Tuesday, November 19, 2024, a spectacular rise was seen in the stock market. But in the last hour of trading, the market lost its gains due to heavy selling by foreign investors (FIIs) due to increasing tension between Russia and Ukraine. In Tuesday’s session, foreign investors sold shares worth Rs 3411 crore while domestic institutional investors (DIIs) bought shares worth Rs 2783.89 crore. After October 2024, selling by foreign investors continues in the month of November. In the first fortnight of November, foreign investors have sold shares worth Rs 22420 crore.
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