Eid ul adha 2024: Will Indian stock market remain open for trading tomorrow?

Stock market holidays : Stock market exchanges Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will remain closed for trading on Monday, June 17, in observance of Bakri Id. This closure affects all segments, including equity, derivatives, and SLB. Normal trading will resume on Tuesday, June 18.

Additionally, the Multi Commodity Exchange of India Limited (MCX) will be closed for the morning session on June 17. However, it will reopen for the evening session from 5:00 PM to either 11:30 PM or 11:55 PM.

The Indian market has a total of 15 holidays scheduled for the calendar year 2024. The remaining 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. On these dates, trading activities will also be suspended.

Here's a list of stock market holidays remaining in this year -

June 17 - Bakrid and Muharram

August 15 - Independence Day

October 2 - Gandhi Jayanti

November 1 - Diwali

November 15 - Gurunanak Jayanti

December 25 - Christmas

Stock market performance on Friday

On June 14, despite a subdued start, India's benchmark equity indices, Sensex and Nifty 50, closed higher, driven by gains in the auto and consumer durable sectors. However, profit booking in information technology (IT) stocks weighed on the indices. The BSE Sensex rose 181.87 points or 0.24 per cent to close at 76,992.77, while the Nifty 50 ended at 23,465.60, up 66.70 points or 0.29 per cent.

In the broader markets, the Nifty Midcap 100 and Nifty SmallCap 100 outperformed, closing 1.05 per cent and 0.8 per cent higher, respectively. The India VIX, a measure of market volatility, decreased by 4.93 per cent.

“The domestic market remained marginally positive this week, albeit with a temporary blip in momentum due to a lack of fresh triggers. Nonetheless, mid and small-cap sectors demonstrated outperformance, as sentiment has enhanced again for growth-based stocks. The outcome of the FOMC meeting was hawkish; market expectations have shifted from two rate cuts in CY24 to just one. However, the stability of US inflation provided some relief. Domestic CPI data suggests a gradual decline in inflation. Though the last mile towards the inflation target remains sticky, given the expectation of a normal monsoon, investors are hopeful that the MPC will be one step closer to the easing cycle," said Vinod Nair, Head of Research, Geojit Financial Services.

Among the Nifty 50 stocks, 28 ended in the green, with Eicher Motors, Adani Ports, Mahindra & Mahindra, Shriram Finance, and Titan Company leading the gains. On the other hand, Tech Mahindra, Tata Consultancy Services, Wipro, HCL Technologies, and Larsen & Toubro were the top losers.

Sector-wise, Nifty Auto, Consumer Durables, Realty, Metal, Oil & Gas, Financial Services, and FMCG sectors all closed higher, with gains ranging from 0.4% to 1.30%. In contrast, the IT sector ended lower, while the Media sector closed flat for the day.

Nair further added, "Following strong IT sector returns last week, heavyweights and FMCGs experienced selling pressure. However, all other sectors maintained positive performance this week, with real estate notably outperforming based on government spending announcements in rural areas. In the upcoming week, attention will be on the release of industrial production data from India, China, and Eurozone inflation as investors seek insights into the economic outlook of these countries."

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