Monday, 16th May 2022 is a settlement holiday on account of Buddha Purnima. Due to this, all equity delivery orders placed on 13th May will reflect in your stock position on the mobile/ trading app on Tuesday 17th May 2022 i.e. BTST trades will not be allowed on 16th May 2022.
To help you understand what this means, we’ve simplified the details below.
What’s a Settlement Holiday?
Settlement holidays are when markets are open for trading but clearing and settlement of your trades do not take place as per the usual T+2 cycle because either the depositories (NSDL and CDSL) or banks are closed on that day.
How Does This Holiday Impact Your Trades?
Since the settlement date denotes the final transfer of ownership of shares and not the day you made the trade, a holiday in between causes a delay in the final transfer of shares. You will not be able to sell the stocks purchased on 13th May on 16th May.
What Will be the Timelines Due to the Settlement Holiday on 16th May 2022?
All trades placed on 13th and 16th May in the equity segment will be settled on 18th May 2022. All trades placed on 13th May in the derivative segment will be settled on 17th May. All shares bought on 13th May will be visible under holdings on 17th May and you will only be able to sell them from 17th May.