Business
Indian Stock Market Shuts for Mahashivratri on Fresh Record Highs
On Mahashivratri, both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India will remain closed today, following recent market highs.
The stock market will remain shut across various segments including equity, derivatives, and currency trading as traders observe the festival.
Despite the closure, the Indian equities registered near record levels recently. The 30-share BSE Sensex surged to a new high of 74,245 while the NSE Nifty index also hit a lifetime best of 22,526.
Notable stocks like ITC, Tata Steel, TCS, L&T, HDFC Bank, and Bajaj Finance saw gains, pushing the broader market upwards.
Conversely, some stocks like NLC India, M&M, and Kajaria Ceramics faced losses amid the market’s overall positive trend.
Market analysts expect the ‘buy-on-dips’ strategy to persist with support seen at 22,400 on the Nifty and 47,500 on the Nifty Bank for the short term.
The Indian stock market is set to reopen for trading on March 11, following the Mahashivratri holiday.
