Stock Market Holiday: The Indian stock markets, BSE and NSE, are closed today for Eid ul-Adha 2024. This closure affects all segments, including equity, derivatives, and SLB. According to the 2024 stock market holiday calendar, today, June 17, is a trading holiday for Bakri Eid.
Additionally, the Multi Commodity Exchange of India Limited (MCX) will not have morning session trading today but will resume in the evening from 5:00 PM to 11:55 PM.
June 17 is the only stock market holiday this month, with the next holiday scheduled for July 17 in observance of Muharram. The 2024 holiday calendar includes a total of 15 holidays.
Stock Markets Closed on June 17 for Eid-ul-Adha
The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will be closed on June 17 for Eid-ul-Adha. This closure affects trading in derivatives, equities, SLBs, currency derivatives, and interest rate derivatives.
The commodity derivatives market will be closed in the morning session (9 AM to 5 PM) but will reopen for the evening session from 5 PM to 11:55 PM.
Trading on both exchanges will resume on Tuesday, June 18.
On June 14, Indian markets hit new record highs. The Sensex rose for the third consecutive session, closing 0.24% higher at 76,992.77, while the Nifty gained 0.29%, ending at 23,465.60 for its fourth straight session of gains.
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Upcoming Stock Market Holiday
Upcoming stock market holidays include:
- July 17: Muharram
- August 15: Independence Day
- October 2: Mahatma Gandhi Jayanti
- November 1: Diwali
- November 15: Gurunanak Jayanti
- December 25: Christmas
Stock Market on Friday
The Indian stock market indices, Sensex and Nifty 50, closed higher on Friday, June 14, driven by gains in auto, consumer durable, and financial stocks. The BSE Sensex rose 181.87 points (0.24%) to finish at 76,992.77, while the Nifty 50 increased by 66.70 points (0.29%) to close at 23,465.60, hitting a session high of 23,490.40.
The broader markets also saw positive movement, with the Nifty Midcap 100 climbing 1.05% and the Nifty SmallCap 100 rising 0.8%, outperforming the main indices.
Throughout the past week, the Nifty 50 traded within a narrow range, and volatility decreased following the election results, leading traders to focus on specific stocks. The Nifty closed just below 23,500, gaining three-tenths of a percent for the week.
Ruchit Jain, Lead Researcher at 5paisa.com, commented on the market’s progress, noting that foreign institutional investors (FIIs) covered their short positions and added new longs, contributing to the momentum. Political stability has also boosted confidence among market participants, resulting in positive stock-specific movements.
Jain predicts that Nifty 50 will face initial resistance around 23,500, a key level from the past week. If surpassed, the index could rise to 23,900 – 24,000, the retracement zone of the recent correction. On the downside, support levels are at 23,300, followed by 23,000 – 23,900. Jain advises traders to view dips as buying opportunities and focus on stock-specific trades with a positive outlook.
Disclaimer: The views and recommendations mentioned are those of individual analysts or brokerage firms, not Edu2Day. Investors should consult certified experts before making investment decisions.
Also Read: Sensex Hits Record High Following RBI’s Optimistic Growth Forecast
Stock Market Holiday FAQs
Q.1. Why are the Indian stock markets closed today?
Ans. The BSE and NSE are closed today, June 17, 2024, for Eid ul-Adha.
Q.2. What segments are affected by the stock market holiday?
Ans. The holiday affects all segments, including equity, derivatives, and SLB.
Q.3. Will the commodity market be open today?
Ans. The MCX will be closed in the morning session but will reopen from 5:00 PM to 11:55 PM.
Q.4. When will trading resume after the Eid ul-Adha holiday?
Ans. Trading on BSE and NSE will resume on Tuesday, June 18, 2024.
Q.5. What is the next stock market holiday after June 17?
Ans. The next stock market holiday is on July 17, 2024, for Muharram.
