The Eid Al Fitr holidays in UAE for the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) will commence on Monday, April 8th, 2024 (29th Ramadan 1445 AH) and extend until Thursday, April 11th, 2024 (3rd Shawwal 1445 AH).
The exact date for resumption of trading in ADX and DFM depends upon official confirmation of the first day of Eid Al Fitr 2024 based upon sighting the crescent moon. Here are possible scenarios of when this might happen:
- If Eid Al Fitr 2024 falls on Tuesday, April 9th, 2024, Regular market and trading operations will resume the following Friday (April 12th).
- If Eid Al Fitr 2024 UAE falls on Wednesday, April 10th, Trading operations resume next Monday, April 15th (2024).
Employees working in the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) must watch for official government announcements regarding the confirmed date of Eid Al Fitr 2024. Only this will determine whether trading operations will resume on the 12th or 15th of April 2024 in ADX and DFM.
There are some Exceptions for the Dubai Gold and Commodities Exchange (DGCX) and Dubai Commodities Clearing Corporation (DCCC)
As opposed to ADX and DFM, both Dubai Gold and Commodities Exchange (DGCX) and Dubai Commodities Clearing Corporation (DCCC) will maintain regular trading hours over Eid Al Fitr 2024, so investors may continue trading commodities contracts during this time.
To minimize the negative impact of Eid Al Fitr holidays in UAE on Investors and Financial Professionals, they should make sure following:
- Plan for Market Closure: Be mindful of any holiday windows which might alter trading strategies and adapt trading plans accordingly.
- Order Management: For orders that were placed prior to market closure, ensure they don’t expire during break either by changing expiration dates or canceling them outright before it begins.
- Market News and Volatility: Keep abreast of global financial market developments during holiday periods as any potential volatility might surface; such information could impact local markets when they reopen after this holiday period has concluded.
- Post-Holiday Market Behavior: As soon as you return from holidays, pay careful attention to market movements so you can adapt any investment decisions as necessary.
The decision related to the Eid Al Fitr holidays in UAE for the financial markets came after a thorough consultation with Dubai Gold and Commodities Exchange. The dates of Eid holidays in UAE for the financial markets are aligned with dates recently announced by the MOHRE for the private sector employees in the UAE.
FAQs
- When will the UAE financial markets close for Eid Al Fitr?
The official holiday period is from Monday, April 8th to 3rd of Shawwal; either falling on Thursday, April 11th or Friday, April 12th. However, trading will resume based on the official confirmation of Eid Al Fitr’s start date.
- How can I know for sure when trading resumes in the ADX and DFM?
Keep an eye out for official government announcements confirming the first day of Eid Al Fitr. This will determine the exact date trading restarts in the markets.
- Will the financial markets remain open during Eid Al Fitr in the UAE?
Yes, the Dubai Gold and Commodities Exchange (DGCX) and Dubai Commodities Clearing Corporation (DCCC) will maintain regular trading hours throughout the holiday period.