Stock market holiday today : BSE, NSE to remain shut for Maharashtra Day

Stock market holiday today

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Stock market holiday today : Trading on both the NSE and the BSE will resume on Thursday, May 2.

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed on May 1 on account of Maharashtra Day (Labour Day). Trading in derivatives, equities, SLBs, and currency derivatives, as well as in interest rate derivatives will remain shut for the day. Stock market holiday today

The commodity derivatives segment will remain closed in the morning session – from 9am to 5pm, while the evening session will remain open from 5pm to 11.55pm.

Trading on both the NSE and the BSE will resume on Thursday, May 2. Stock market holiday today

On April 30, in the highly volatile session, the market erased all the intraday gains and ended lower amid selling seen in the IT, metal, media, oil & gas names. Stock market holiday today

At close, the Sensex was down 188.50 points or 0.25 percent at 74,482.78, and the Nifty was down 38.60 points or 0.17 percent at 22,604.80.

M&M, Power Grid Corporation, Shriram Finance, Hero MotoCorp and Bajaj Auto were among the top gainers on the Nifty, while losers were Tech Mahindra, BPCL, JSW Steel, HCL Technologies and Sun Pharma. Stock market holiday today

Among sectors, IT, metal, media, oil & gas, healthcare were down 0.4-1 percent, while auto, power and realty were up more than a percent each.

The broader indices outperformed the benchmarks with BSE midcap index touching fresh high and ended 0.5 percent higher, while the smallcap index ended on a flat note. Stock market holiday today

“Nifty witnessed selling pressure as it encountered resistance near the previous swing high, resulting in a weak closing. Other indicators such as the 20-day Simple Moving Average (SMA) and the 50-day SMA are positioned below the index value, suggesting that the ongoing positive trend remains intact. The Relative Strength Index (RSI) also indicates a bullish crossover,” says Rupak De, Senior Technical Analyst, LKP Securities. Stock market holiday today

“Over the next few days, the trend in the headline index might remain sideways unless it breaks above the all-time high of 22783. On the downside, immediate support is placed at 22500, below which the index might decline further,” he added.

On Tuesday, Indian rupee ended marginally higher at 83.43 per dollar versus Monday’s close of 83.47.

“The rupee remained flat at around 82.42, with the dollar index showing neutrality. Volatility in the capital market kept the rupee range-bound. Participants are closely monitoring the upcoming interest rate decision in the US for potential price action in the rupee. Weakness persists in the rupee, albeit in a stable manner,” says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. Stock market holiday today

On May 1, 2024, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) were closed in observance of Maharashtra Day. Here’s a breakdown of the news: Stock market holiday today

What happened:

  • Both the BSE and NSE, India’s primary stock exchanges, did not conduct any trading activities on Wednesday, May 1st.
  • This closure was due to Maharashtra Day, a public holiday in the state of Maharashtra that commemorates its formation on May 1, 1960. Stock market holiday today

What was closed:

  • Trading in all segments of the stock exchange was halted. This includes:
    • Equity (shares of companies)
    • Derivatives (contracts based on the underlying value of stocks)
    • SLB (Securities Lending and Borrowing)
    • Currency Derivatives
    • Interest Rate Derivatives Stock market holiday today

Impact:

  • Investors were unable to buy or sell stocks on this day.
  • The closure may have caused some inconvenience, but it’s a standard practice for stock exchanges to be closed on public holidays. Stock market holiday today

What’s next:

  • Normal trading activity resumed on the following day, May 2nd.
  • You can find upcoming stock market holidays on the websites or calendars of the BSE and NSE. Stock market holiday today

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