When is Bakra Eid (Bakrid) holiday for financial markets? Check out F&O expiry as well

The Maharashtra government has rescheduled the Eid al-Adha or Bakrid holiday from June 28 to June 29 in accordance with the sighting of the new moon, which will take place on Thursday. 

Now, the financial markets will remain closed on account of Bakrid (Eid-ul-Adha) on Thursday, June 29, instead of Wednesday, June 28.

Trading in the equity, securities lending and borrowing (SLB), derivatives and currency derivative segments on BSE, NSE, and the forex market will resume on Friday, June 30.

F&O expiry

It is worth noting that the National Stock Exchange has said that the day of expiry of June futures and options (F&O) derivative contracts will take place on Wednesday, June 28, which was earlier on June 29. NSE informed about the same via its official circulars on Tuesday.  

Nifty and NiftyBank contracts

The existing Nifty and NiftyBank contracts will expire on Wednesday, instead of Thursday. The expiry of all Nifty Midcap derivative contracts will still take place on Wednesday.

Contracts for the July series will begin from Friday.

In addition to equity markets, the currency markets will also remain shut on Thursday. The currency markets will remain open on Wednesday.

At the same time, investors should note that MCX will be closed for the morning session on June 29. Trading will be available from 5 pm to 11:30/11:55 pm on June 29. Trading will be available only in the evening for the commodity derivative segment as well.

Branches of most commercial banks — private as well as public — will remain shut on June 29 on account of Eid-ul-Adha.

Bakrid is an important festival for the Muslims worldwide and the day is associated with the legend of Prophet Ibrahim’s willingness to sacrifice his son, Ismail. This was an act of obedience to Allah’s command. For millions of Muslim’s around the globe, Eid-ul-Adha symbolises obedience and submission to Allah.

Although state governments prepare a list of holidays every year, the dates of Muslim festivals sometimes change as they are decided based on Islamic Lunar Calendar.