Buddha Purnima: A Settlement Holiday That Could Impact Your Trading Game

Are you planning to trade in the Indian stock market on May 5, 2023?

If so, you should be aware of the settlement holiday that will be observed on account of Buddha Purnima. While trading will still be possible, clearing and settlement will be closed for Payin and Payout of stocks and funds, which could impact your account balance and the final transfer of shares.

What is a settlement holiday?

A settlement holiday is a day when markets are open, but the settlement of trades does not take place due to the closing of depositaries (NSDL and CDSL) or banks. This means that trading can occur, but the final transfer of ownership of shares will be delayed until the next business day.

What should you keep in mind?

• All trades placed on 4th and 5th May in the Equity and Derivative segment will be settled on 8th May
• All shares bought on 4th May will be visible under T1 holdings on 5th May but you will only be able to sell them on 8th May
• The credit bill amount for all segments on 4th May will not be available for trading or withdrawal purposes on 5th May because this amount will be blocked for one day due to the settlement holiday
• Any Standard Fund Withdrawal requests placed after 8 AM on 4th May will be processed on 8th May
• However, you can place an Instant withdrawal request between 11 AM to 4 PM on 04th May to get your funds within 15 Minutes

What are your withdrawal options

If you need to withdraw funds, you should keep in mind that any Standard Fund Withdrawal requests placed after 8 AM on May 4 will be processed on May 8. However, you can place an Instant withdrawal request between 11 AM to 4 PM on May 4 to get your funds within 15 minutes.

Conclusion:

In summary, if you plan to trade in the Indian stock market on May 5, 2023, be aware of the settlement holiday and its impact on your trades. By being informed and prepared, you can navigate this holiday and ensure that your trading game remains strong.