ManagementDalal Street to take New Year break
The country"s bourses will join their global counterparts tomorrow to welcome the new year with a holiday.
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With as many as 11 leading stock markets across globe remaining closed on January 1 every year, the Bombay Stock Exchange and National Stock Exchange would be the new one to join this group to declare a holiday on the new year"s day.
All the leading markets across the US and Europe such as the New York Stock Exchange, the Nasdaq, Brazil Stock Exchange and Canada"s Toronoto Stock Exchange, and London Stock Exchange, as well as the Australian and Johannesburg exchanges would remain closed tomorrow.
In Asia, the Tokyo Stock Exchange, China"s Shanghai Stock Exchange and Hong Kong exchanges, and Taiwan Stock Exchange will be closed. Also, the Russian Stock Exchange will be shut on account of the new year.
Meanwhile, with many of the holidays falling on either on Saturdays or Sundays, the Dalal Street would be shut for just 11 days in the new year, against a hefty 19 in the outgoing year. As many as seven holidays, including the Independence Day, Dussehra, Guru Nanak Jayanti and Christmas, fall either on a Saturday or Sunday in 2010.