Market may be closed on Budget Day

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Mumbai : This year on Budget day you may not be able to buy or sale your shares. As there is no clarity yet on whether the stock markets will remain open on the very day of general budget. This year it is on February 28 and that is Saturday, which is a stock market holiday. Naturally if there is no special session on budget day in stock market, the BSE and NSE will get to react to the budget proposals after  48 hours after.

The day next to the budget date is Sunday, which is also a holiday.  Some members of the broking community have requested SEBI to hold a special trading session on that day. Now BSE and NSE are waiting for instruction of market regulator SEBI for special session. The regulator feels there is no relation between the Budget and stock markets being open and that its should be treated like any normal event.

In the past, markets have remained open on three occasions when the Budget was presented on a Saturday. It were February 29,1992 and February 27,1993, when the finance minister Manmohan Singh had presented his budgets. Besides, Yashwant Sinha had presented it on February 27,1999.
It was on March 22, 2014 when for a last time NSE and BSE had remained open for a special session. That was on a Saturday also. But that time markets were open for about 90 minutes to test a software that the NSE had installed. Again in every year there is a special session on Diwali as “muhurat trading”. The day is also considered a New Year according to the Hindu calendar for stock market.

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