Stock Market Holiday: Stock market exchanges Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will suspend trading on Monday, June 17, in observance of Bakri Eid. The closure will affect all segments, including equities, derivatives and SLBs. Normal trading will resume on Tuesday, June 18.
Additionally, the Commodity Exchange of India (MCX) will suspend morning trading on June 17. However, evening trading will resume from 5 pm to 11:30 pm or 11:55 pm.
A total of 15 public holidays are scheduled for the Indian market in the calendar year 2024. The remaining public holidays are Muharram on July 17, Independence Day on August 15, Mahatma Gandhi’s Birthday on October 2, Diwali on November 1, Gurunanak Jayanti on November 15 and Christmas on December 25. Trading activities will also be suspended on these dates.
Here is a list of the stock market holidays remaining this year:
June 17th – Bakrid and Muharram
August 15 – Independence Day
October 2 – Gandhi Day
November 1st – Diwali
November 15 – Guru Nanak Jayanti
December 25th – Christmas
Friday’s stock market performance
Indian stock indexes Sensex and Nifty 50 on June 14 closed higher despite a subdued start, led by gains in the automobile and consumer durables sectors. However, profit booking in information technology (IT) stocks weighed on the indices. The BSE Sensex rose 181.87 points or 0.24 percent to close at 76,992.77, while the Nifty 50 rose 66.70 points or 0.29 percent to close at 23,465.60.
Across the broader market, Nifty Midcap 100 and Nifty SmallCap 100 were the best performers, closing up 1.05% and 0.8% respectively. India VIX, a gauge of market volatility, fell 4.93%.
“The domestic market remained marginally positive this week despite a temporary loss of momentum in the absence of fresh triggers. However, the small and mid cap sector outperformed as sentiment towards growth stocks strengthened again. The FOMC meeting outcome was hawkish and market expectations shifted from two rate cuts to one in ’24 calendar years. However, stabilisation in US inflation provided some relief. Domestic CPI data suggests a gradual decline in inflation. While the final step towards the inflation target remains a challenge, with expected normalisation of monsoon, investors are hopeful that the Monetary Policy Committee will move a step closer to the easing cycle,” said Vinod Nair, Head of Research, Geojit Financial Services.
Of the Nifty 50 stocks, 28 rose with Eicher Motors, Adani Ports, Mahindra & Mahindra, Shriram Finance and Titan Company leading the gains, while Tech Mahindra, Tata Consultancy Services, Wipro, HCL Technologies and Larsen & Toubro were the top losers.
Sector-wise, Nifty Auto, Consumer Durables, Real Estate, Metals, Oil & Gas, Financial Services and FMCG sectors all closed with gains ranging from 0.4% to 1.30%. In contrast, IT sector declined and media sector closed flat.
Nehru added, “Large corporates and FMCG came under selling pressure following strong returns from the IT sector last week. However, all other sectors continued to perform well this week with real estate particularly performing well following government spending announcements in the regions. Attention will be focused on the release of industrial production data for India, China and eurozone inflation next week as investors seek insights into the economic outlook of these countries.”
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