Stock market investors in India are enjoying a day off today as the Indian stock market is closed in observance of Ram Navami. This holiday, celebrating the birth anniversary of Lord Ram, has led to the closure of both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Wednesday, April 17.
Investors were reminded to check the official websites of BSE and NSE for the list of trading holidays in 2024, which includes April 17 as a holiday for Ram Navami. This means that there will be no trading activities taking place at the stock exchanges today.
While the Indian equity market remains closed, the Commodity Derivative Segment on the Multi Commodity Exchange of India Limited (MCX) is only closed for the morning session, with trading resuming in the evening from 5 pm to 11:30/11:55 pm.
Looking ahead, investors can mark their calendars for the next stock market holiday on May 1, which will be observed for Maharashtra Day. Additionally, there will be another stock market holiday on May 20 due to the Lok Sabha election in Mumbai.
In terms of recent market performance, the Sensex and Nifty 50 indices experienced losses for the third consecutive session on Tuesday. The Sensex dropped 456.10 points to close at 72,943.68, while the Nifty 50 fell 124.60 points to settle at 22,147.90. The Nifty Smallcap 100 index outperformed the frontliners, closing 0.75% higher, while the Nifty Midcap 100 index eased 0.09%.
The market decline was attributed to various factors including tensions in the Middle-East region, a rise in the US dollar and US Treasury yields, and selling by Foreign Institutional Investors (FIIs). On Tuesday, FIIs net sold Indian shares worth ₹4,468.09 crore, while Domestic Institutional Investors (DIIs) net purchased shares amounting to ₹2,040.38 crore.
As investors enjoy the holiday today, they can stay informed about market developments and plan their strategies for the upcoming trading days.
