Indian Financial Markets Closed Today for Eid al-Adha; Trading to Resume Tomorrow

The Indian financial markets, including the capital and money markets, will be closed today for Eid al-Adha (Bakrid). Trading in various segments such as equity, derivatives, securities lending and borrowing, and currency derivatives will resume tomorrow. However, commodity derivatives and electronic gold receipts segments will have a trading session in the evening.

During the previous session on Friday, domestic benchmarks showed a strong performance, with gains in automobile, consumer durables, and healthcare stocks. The BSE index settled higher at 76,992 points.

Looking ahead, the stock market holiday list for June 2024 shows only one holiday, with the next trading holiday scheduled for July 17 for Muharram. There are a total of 15 holidays in the calendar year 2024.

On Friday, the NSE Nifty index reached an all-time high before closing slightly up at 23,466 points. Mid- and small-cap shares also ended in the green, with the fear index, India VIX, dropping significantly.

Major contributors to the rise in frontline stocks included HDFC Bank, Reliance Industries, M&M, Titan, and others. On the flip side, some stocks experienced a decline.

Looking at the outlook, experts suggest that the short-term sentiment is likely to remain positive, with support levels at 23,400-23,300. The Nifty Bank index is consolidating and needs to surpass certain levels to confirm an upside breakout.

As always, it’s important for investors to consult with certified experts before making any investment decisions.