Stock Market Holiday Today: BSE, NSE To Remain Closed On Account Of Bakrid
Stock Market Holiday Today: BSE, NSE To Remain Closed On Account Of Bakrid
Indian financial markets — the capital as well as the money markets — will remain closed today for Eid al-Adha

Indian financial markets — the capital as well as the money markets — will remain closed today for Eid al-Adha (Bakrid). Trading in the equity, derivatives, securities lending and borrowing (SLB), and currency derivative segments on bourses BSE and NSE, along with the forex market, will resume tomorrow, June 18.

Commodity derivatives and electronic gold receipts segments will be closed during the morning trading session, but trading will resume in the evening from 5 pm to 11:30/11:55 pm.

During the previous session on Friday, domestic benchmarks continued their strong run, led by gains in automobile, consumer durables and healthcare stocks. The 30-share BSE pack settled 182 points or 0.24 per cent higher at 76,992.

There is only one stock market holiday in June 2024 and the next trading holiday will now be on July 17 for Muharram, the stock market holiday list shows. There are a total of 15 holidays in the calendar year 2024.

The remaining trading holidays for this year are on July 17 for Muharram, August 15 for Independence Day, October 2 for Mahatma Gandhi Jayanti, November 1 for Diwali, November 15 for Gurunanak Jayanti, and December 25 for Christmas.

Stock Market on Friday

The broader NSE Nifty index touched an all-time high of 23,490 before closing 67 points or 0.29 per cent up at 23,466.

Mid- and small-cap shares also finished in the green, with the Nifty Midcap 100 up 1.05 per cent and Nifty Smallcap 100 rising 0.76 per cent. India VIX, fear index, tanked 4.93 per cent to 12.82-level.

On BSE, frontline stocks such as HDFC Bank, Reliance Industries, M&M, Titan, Axis Bank, Tata Motors, Bajaj Finance and ITC were the major contributors to the rise. Also, Mazagon Dock Shipbuilders, SKF India, Chemplast Sanmar, J&K Paper and Suven Pharma zoomed up to 14.33 per cent.

On the flip side, La Opala RG, KIOCL, Usha Martin, Aegis Logistics, Zensar Tech, V-Guard, Redington and CAMS fell up to 3.47 per cent.

Out of a total of 3,980 stocks that traded on BSE during the last trade, 2,179 settled with gains while 1,695 others ended lower. The remaining 106 stocks stayed unchanged.

Nifty outlook

“Nifty remained within the defined range of 23,300-23,500. The short-term sentiment is likely to remain more or less positive. Support levels are seen at 23,400-23,300, where put writers have built significant positions. A decisive fall below these levels might shift the market balance in favor of the bears. Until then, it is a ‘buy-on-dip’ market. On the higher end, a decisive move above 23,500 might lead to a sharp upside in the near term,” said Rupak De, Senior Technical Analyst at LKP Securities.

Nifty Bank outlook

“Nifty Bank continued its consolidation phase and was unable to surpass the 50,000 mark, where the highest open interest is built up on the call side. The index needs to decisively surpass the 50,200 mark to confirm an upside breakout towards the 51,000 level. The lower-end support is placed at the 49,500-49,400 zone, and a break below this will open gates for further downside towards 49,000,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

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