After much speculation, Hindu scholars and pandits have confirmed that Diwali will be celebrated on October 20 this year, as the Amavasya Tithi in the month of Kartik falls on this date.
As a result, schools, colleges, government offices, banks, and other public institutions will remain closed on October 20 in most parts of India. However, some states have scheduled the official Diwali holiday for October 21.
In Maharashtra, schools, colleges, banks, and government offices will remain closed on October 21 for Diwali. This also means that the Mumbai-based Indian stock exchanges, the BSE and the National Stock Exchange (NSE), will observe a holiday on October 21 and not on October 20.
“Oct. 21, Tuesday, shall be a trading holiday on account of Diwali Laxmi Pujan. Muhurat Trading will be conducted on that day,” the NSE noted in its holiday calendar.
Additionally, a trading holiday has been declared on October 22 on account of Balipratipada. The festival is celebrated to honour the return of King Bali to Earth. It’s a public holiday in states such as Maharashtra and Karnataka. These back-to-back holidays will result in an extended festive break for stock markets in India.
