Stock exchanges will conduct trading only in three segments -- cash, derivatives and securities lending & borrowing on February 21 -- the day Brihanmumbai Municipal Corporation (BMC) will go to polls.
However, no settlement will take place that day because of banking holiday declared by the Reserve Bank of India as also trading in currency and debt markets will remain closed.
The stock exchanges -- BSE, NSE and Metropolitan Stock Exchange of India (MSEI) -- have informed about the decision to Securities and Exchange Board of India (Sebi).
"Members are requested to note that there shall be no settlement on February 21, 2017 on account of Municipal Corporation Elections," NSE said in a circular.
Voting for BMC will be held on February 21. A total of 2,275 candidates, which include 1,190 males, 1,084 females and one transgender, are in fray for 227 seats.
In a move to increase voter turnout, Maharashtra government has declared a holiday for its employees on polling day.
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