Equity markets BSE and NSE will remain closed for trading on Thursday on the account of Eid-Ul-Fitr (Ramzan Eid). India’s largest agri commodity exchange NCDEX will also be shut tomorrow, while MCX will be closed for the first session between 9 am and 5 pm and resume trading after 5 pm.
Further, in April, equity markets will be closed for Ram Navami on April 17.
Apart from Ramzan Id and Ram Navami, the markets will be shut for Maharashtra Day (May 1), Bakri Id (June 17), Muharram (July 17), Independence Day (August 15), Mahatma Gandhi (October 2), Diwali (November 1), Gurunanak Jayanti (November 15) and Christmas (December 25).
The exchanges may alter any of the above holidays, for which a separate circular will be issued in advance.
In Wednesday’s trading session, Indian equity indices traded higher, led by energy and banking stocks, ahead of key U.S. inflation readings later in the day.
Meanwhile, S&P BSE Sensex was trading at 75,886 around 12:30 pm, gaining 202 points or 0.28%, and the broader Nifty was trading at 22,702, higher by 59 points or 0.26% around this time.
The Nifty breadth was skewed in favour of bulls with 31 stocks trading in the green, and 19 in the red. The top gainers were BPCL, Coal India, Kotak Bank, Tech Mahindra, and Hindalco, while the top losers were HDFC Life, Cipla, Maruti Suzuki, SBi Life, and Divi’s Laboratories.
“A significant recent healthy trend in the market is the outperformance of the fundamentally strong largecaps over the mid and smallcaps. This trend is making the market healthier and, therefore, has the potential to continue. Largecap banking stocks are likely to be the leaders if the rally sustains,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
“The US CPI data to be published today is significant since that will determine the quantum of rate cuts by the Fed this year. The fact that US inflation has come down by two-thirds is significant and positive from the market perspective, but the trajectory of inflation, going forward, will largely influence the direction of stock markets, globally,” Vijayakumar said.
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