Eid-e-Milad-un-Nabi a settlement holiday, but Zerodha allows trading, says Nithin Kamath
Indian stock markets, including equity, derivatives, and SLB segments, remain open today for trading on Eid-e-Milad-un-Nabi. It is however a settlement holiday and as such no settlements happen today, said Nithin Kamath, founder of online brokerage platform Zerodha in his post on the social media platform X.
“Today is a settlement holiday, and thus, settlements of funds and stocks don't happen. This happens when banks in Maharashtra are closed, but trading on exchanges is open,” said Kamath in the post.
He further stated that most brokers don't allow the shares bought on Friday to be sold on Monday because of this holiday but Zerodha is among the few brokers that does allow the traders to sell stocks bought on Friday.
However, due to the settlement holiday, the equity intraday profit credits and F&O credits aren't included in one’s trading balance or are not available for withdrawal today.
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