India's leading stock exchanges, BSE and the National Stock Exchange (NSE), will remain open and work as usual on March 23, Monday. Major parts of the country have been put under lockdown in a bit to combat the fast-spreading coronavirus outbreak, but the exchanges will not be impacted.
India's leading stock exchanges, BSE and the National Stock Exchange (NSE), will remain open and work as usual on March 23, Monday.
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"All segments at BSE will operate as usual on Monday, 23 March 2020," a BSE spokesperson said.
Similarly, all segments of NSE will also operate on Monday.
The news puts to rest uncertainty over the continuity of the stock market in light of the lockdown the central government has imposed on 75 districts of the country, including Mumbai City and Mumbai Suburban to combat the coronavirus outbreak.
The shutdown means that only services that qualify as essential will be allowed to be undertaken.
However, at the press conference announcing the shutdown today, the Health Ministry had mentioned that stock exchanges and banks were exempt.
Besides, the uncertainty over market operations also stemmed from not just whether exchanges have the necessary infrastructure to ensure seamless operations with many staff working from home.
It also was caused by expectations that the spread of the outbreak could result in extreme volatility.
Benchmark indices have already lost about 30 percent in one month. On Friday, SEBI announced a slew of measures to curb short-selling.
But SEBI and Finance Ministry officials CNBC-TV18 spoke to said curbing or shutting down market operations was not on the cards.
As of latest, the SGX Nifty was trading 598 points, or 6.81 percent, down -- wiping out more than Friday's bumper gains -- in an indication that shares could get pummelled when they open Monday.
None of the world's stock markets have resorted to shutting down operations despite the ongoing volatility.
Globally, the coronavirus outbreak has claimed 13,000 lives, with Italy being the worst-affected.
First Published: IST