The closure is because of Holi, a extensively celebrated pageant in India.
The inventory market will likely be closed for the whole day on Monday, March twenty sixth, 2024.
Analysts anticipate international cues and overseas investor exercise to steer the inventory market this week, which is shortened by a vacation. Key indexes may expertise uneven buying and selling because of the month-to-month derivatives expiry on Thursday.
Holi Stock Market Holiday
This week markets can have simply three buying and selling classes. Equity markets will stay closed on Monday for Holi and on Friday for Good Friday.
The Indian inventory market is not going to be open on Monday, March twenty sixth, 2024. The markets are closed in observance of Holi, a significant vacation in India. They will resume buying and selling on Tuesday, March twenty seventh.
Here’s some further details about the inventory market closure:
- Reason for Closure: The closure is because of Holi, a extensively celebrated pageant in India.
- Duration of Closure: The inventory market will likely be closed for the whole day on Monday, March twenty sixth, 2024.
- Reopening: Trading will resume on Tuesday, March twenty seventh, 2024, with common hours (sometimes 9:15 am to three:30 pm IST).
- Impacted Exchanges: This closure applies to main exchanges just like the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) of India.
Market Trends
“This week will be shorter due to market closure on both Monday for Holi and Friday for Good Friday. As a result, trading volumes may be lower with limited market cues. However, volatility remains a possibility as we approach the March F&O expiry and the financial year-end,” Santosh Meena, Head of Research at Swastika Investmart Ltd, stated.
Last week, the BSE benchmark climbed 188.51 factors or 0.25 per cent, and the Nifty went up by 73.4 factors or 0.33 per cent.
“This week being a truncated week and the derivatives’ monthly expiry, we might see some volatility while Nifty is likely to consolidate at higher levels. Also, the US GDP data and other key economic data would keep investors busy,” Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services Ltd, stated.
Movement in international oil benchmark Brent crude and rupee-greenback pattern would even be watched by traders.
The rupee depreciated 48 paise to settle at an all-time low of 83.61 in opposition to the American forex on Friday, monitoring a surging dollar in opposition to main crosses within the abroad markets and weak Asian friends.
The rupee had earlier recorded its lowest closing stage of 83.40 on December 13, 2023.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, stated overseas institutional traders offloading shares coupled with a pointy fall within the forex stage has been indicating that the street forward for fairness markets may very well be bumpy.
“This week is a holiday-shortened one and we expect volatility to remain high due to the scheduled expiry of March month derivatives contracts. Besides, participants will continue to take cues from the global indices, especially the US markets, which are moving from strength to strength with every passing week,” Ajit Mishra, SVP – Technical Research at Religare Broking Ltd, stated.
(With PTI inputs)
