Bakrid trading holiday changed to June 29: Here’s how it will affect your F&O contracts

• The trading holiday changed after the Maharashtra government declared June 29 a public holiday, as opposed to June 28 earlier.
  
• The equity, F&O, and currency markets will remain closed on June 29, revised from 28, on account of Bakri Eid.
  
• Commodity account balances on June 29 will not include the credits from profits realised and marked to market from trades or positions in commodity derivatives on June 28.
  

Indian stock exchanges BSE and the National Stock Exchange (NSE) will remain shut on June 29 due to Eid al-Adha, also known as Bakrid. Earlier, the holiday was scheduled for June 28.

The change came after the Maharashtra government declared June 29 a public holiday as the festival of Bakrid falls on this day instead of June 28 declared earlier. Bakrid is an Islamic festival celebrated by Muslims across the world.

As per online stock broker Zerodha, this will affect the futures and options (F&O) contracts. “The trading holiday on account of Bakri-Id has been revised to Thursday, 29th June 2023 from Wednesday, 28th June 2023. All F&O contracts will expire on Wednesday,” it said.

The equity, F&O, and currency markets will remain closed on June 29. Commodity markets will be closed for the first half, and trading will be open only in the evening session i.e. 5:00 pm onwards.

The revised expiry date and maturity date of all F&O contracts, which includes stock F&O, Nifty and Bank Nifty, is June 28, 2023.

“Since it's also a settlement holiday, your commodity account balance on June 29 will not include the credits from: profits (realised and marked to market) from trades or positions in commodity derivatives on June 28; and credits from exiting option positions on June 28,” Zerodha said.

Also, funds withdrawn on June 29 will be processed on June 30 and the funds will be received by 2 PM on July 1, 2023. Profits and credits received from trades or exiting positions in the derivatives segment (F&O and CDS) on June 28, will be available for withdrawal on June 30, by end of day.

(With PTI inputs)