Hello Investors and Traders!
As you may already know, starting from January 27, 2023, all securities traded in India have transitioned to a T+1 settlement cycle. This new settlement cycle implies that any securities purchased on a particular day (T day) will be reflected in your demat account on the following day, under regular circumstances. Now, what would happen if the next day after purchasing securities is a normal trading day (exchanges are open) but a settlement holiday (due to bank closures)? In this regard, let’s explore the potential change in your investing and trading activity.
The stock exchanges are open on Wednesday, March 22, 2023, but it is a settlement holiday on the occasion of Gudi Padwa / Ugadi. Hence, the stocks purchased on Tuesday, 21 March 2023, will not be reflected in your portfolio holdings / demat account. They will be shown in your portfolio account only on Thursday, 23 March 2023.
For shares purchased (under MTF / Normal) on Tuesday, 21 March 2023 and sold on Wednesday, 22 March 2023, there will be NO early pay-in benefit of 80% of the sell proceeds which is provided as a trading limit on any normal day. Also for BTST orders placed though MTF route on Tuesday, 21 March 2023 would attract upfront margin if sold on Wednesday, 22 March 2023.
Note that since March 22, 2023 is a bank holiday, the currency market (BCD and CDS) will be closed.
We request you to keep trading & investing on March 22, 2023 with the same in mind.