Indian Stock Markets Closed in Observance of Muharram Festival

Indian stock markets will be closed today, July 17, 2024, in observance of the Muharram festival, which marks the beginning of the Islamic calendar’s first month and is a significant event in Islam.

The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will be shut for the day. Trading in the equity, equity derivative, and SLB segments will remain closed throughout the day, along with the currency derivatives and commodity derivatives segments.

However, the commodity derivatives and electronic gold receipts (EGR) segments will have a split schedule, with trading suspended during the morning session from 9:00 AM to 5:00 PM and then resuming in the evening session from 5:00 PM to 11:30 PM/11:55 PM.

On Tuesday, the BSE Sensex hit an all-time high of 80,898 during the day’s trading, closing slightly lower at 80,717, while the NSE Nifty50 also set a new record of 24,661 before ending the session at 24,613.

Despite the record highs, fag-end selling pressure was observed in stocks like Kotak Bank, Reliance Industries, Ultratech Cement, NTPC, L&T, Power Grid, SBI, Axis Bank, Tata Motors, and HDFC Bank, impacting the indices.

In the broader markets, the BSE MidCap index declined by 0.29%, while the BSE SmallCap index gained 0.32% during the trading session.

For the rest of the year, investors should be aware of the upcoming market holidays designated by both NSE and BSE. These holidays include Independence Day on August 15, Mahatma Gandhi Jayanti on October 2, Diwali Pratipada on November 1, Gurunanak Jayanti on November 15, and Christmas on December 25.