NSE holidays are a planned part of the financial calendar. According to the BSE website, the Indian equity benchmarks will not be operational on Monday. This closure is in observance of the “General Elections (Lok Sabha)” and applies to the equity segment. Additionally, the currency derivatives, commodity derivatives, and electronic gold receipts segments will also remain closed. It is worth noting that in May 2024,there will be a total of 11 stock market holidays, which includes weekend
Types of NSE Holidays:
National Holidays: These encompass major national festivals and events recognized throughout India. Examples include Republic Day (January 26th), Independence Day (August 15th), Diwali, and Gandhi Jayanti (October 2nd).
Weekend Closures: The NSE operates from Monday to Friday, following the standard workweek format. Saturdays and Sundays are designated as non-trading days.
Special Holidays: Occasionally, the government or exchange authorities may declare additional holidays for specific events or reasons.
Dissecting the Previous Trading Session’s Market Performance:
In the preceding session, the NSE Nifty headline index concluded at the 22,502-level, marking a 0.16 percent increase of 36 points. Similarly, the 30-share BSE pack settled 0.12 percent higher. Gaining 89 points to reach 74,006. It is worth noting that the stock exchanges operated on May 18 for a special trading session.
Mid- and small cap shares also finished in the green.
With the Nifty Midcap 100 up 0.51 percent and Nifty Small Caps 100 rising 0.82 percent. The fear index, or VIX, for India increased by 3.67% to the 20.53 level.
Market Indices Rise on Positive Sentiment:
The sectoral indices on the NSE all closed in positive territory. Sub-indices Nifty Media, Nifty Consumer Durables. By increasing 1.24 percent, 0.48 percent, 0.47 percent, and 0.78 percent, respectively. Nifty Oil & Gas and Nifty Realty surpassed the index.
Meanwhile, Frontline companies on the BSE, including Tata Motors, Nestle India, L&T, TCS, Power Grid, HUL, and HCL Tech, climbed as much as 2.33 per cent. Of the 3613 stocks traded on the BSE during the last trade.
2415 recorded gains while 1073 ended with losses. This represents a total of 3488 stocks that closed during the trading session. Furthermore the remaining 125 stocks stayed unchanged.
Conclusion:
Understanding these closures and their potential impact allows investors to plan their strategies, manage expectations, and utilize the downtime productively. Nifty closed over 22,500 for the first time in a few days, maintaining its position inside the channel.
Nevertheless, a small-bodied candle on the daily charts provides limited insight into the future price direction. Moreover, there is significant activity in both ‘CALL’ and ‘PUT’ options at 22,500, indicating a point of inflection. As a result, traders should remain vigilant during the initial hour to confirm any potential directional shift. Support is evident at 22,400.
If there is a sustained upward movement. The index could potentially reach 22,600 and beyond in the short term. As said by LKP Securities Senior Technical Analyst Rupak De.
The National Stock Exchange of India (NSE), a vital cog in the nation’s financial engine, observes holidays throughout the year. Moreover These planned closures allow for the celebration of national and regional holidays while also providing necessary downtime for exchange infrastructure maintenance.
