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Is the Indian stock market open today on the occasion of Eid ul Adha 2024?

Is the Indian stock market open today on the occasion of Eid ul Adha 2024?
Is the Indian stock market open today on the occasion of Eid ul Adha 2024?

 


Public Holiday: Indian stock exchanges BSE and National Stock Exchange (NSE) are closed today due to Eid ul-Adha 2024. All segments including equities, derivatives and SLB will remain closed today today on the occasion of Bakri Eid. Stock market holiday calendar 2024 shows Monday, June 17 as the holiday for Bakri Eid.

Trading of shares on the Indian stock market will resume on Tuesday, June 18.

Additionally, commodity trading on the Multi Commodity Exchange of India Limited (MCX) will be closed for today's morning session. It will be open for the evening session from 5:00 p.m. to 11:55 p.m.

Read here: Eid ul adha 2024: Will Indian stock market remain open for trading today?

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

The remaining public holidays for this year are 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 Friday

The benchmark indices of the Indian stock market, Sensex and Nifty 50, ended higher on Friday June 14, driven by gains in automobile, consumer durable and financial stocks. The BSE Sensex gained 181.87 points, or 0.24 per cent, to close at 76,992.77, while the Nifty 50 settled 66.70 points, or 0.29 per cent, up at 23,465. .60. The benchmark Nifty 50 index hit a record high of 23,490.40 during the session.

Broader markets supported the rally, with the Nifty Midcap 100 jumping 1.05% and the Nifty SmallCap 100 0.8%, outperforming the leaders.

Read also: Public holiday today June 17: Are banks closed for Eid al-Adha today? Check all the details here

The Nifty 50 consolidated in a tight range throughout last week and volatility eased after the election results as traders focused more on a stock-specific approach. Nifty closed just below 23,500 with weekly gains of three-tenths of a percent.

Our markets continued to advance with new milestones observed after the volatility of the recent election week. In this bullish move, FIIs covered a large portion of their short positions and added new long positions, which led to this momentum. On the other hand, confidence has picked up among market participants regarding political stability and hence, there is strong positive stock-specific momentum,” said Ruchit Jain, Head of Research at 5paisa. com.

Read also: FPI accelerates its June sales streak as outflows decline to 3,064 crore Indian stocks; When will influxes resume?

In the coming week, he believes the initial hurdle for the Nifty 50 will be around 23,500, which acted as a hurdle last week.

Once this level is breached, the Nifty could bounce towards 23,900 – 24,000, which is the retracement zone of the recent correction. On the lower side, 23,300 followed by 23,000 to 23,900 zones are the supports. Any decline towards support should be viewed as a buying opportunity,” Jain said.

He advises traders to look for stock-specific opportunities and trade with a positive bias.

Read all stock market news updates here

Disclaimer: The opinions and recommendations stated above are those of individual analysts or brokerage firms, and not of Mint. We advise investors to consult certified experts before making any investment decisions.

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Published: Jun 17, 2024, 06:44 IST

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