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Indian Stock Markets Closed for Muharram Observance

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The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) are closed today, Wednesday, July 17, due to the observance of Muharram. The closure includes the stock, equity derivative, SLB, currency derivatives, and interest rate derivatives segments. However, the firms scheduled to announce their April–June quarter results for the fiscal year 2024–2025 (Q1FY25) will proceed as planned. Among the companies revealing their results are Hathway Cable & Datacom Ltd and Elecon Engineering Company Ltd.

As per the BSE’s holiday calendar, the market holiday for Muharram is the tenth for 2024. Following today’s closure, markets will also be shut on Independence Day, Mahatma Gandhi Jayanti, Diwali, Gurunanak Jayanti, and Christmas. Meanwhile, the National Commodity Exchange (NCDEX) and the Multi Commodity Exchange (MCX) will resume trading in the evening today after a morning break.

The Sensex and the Nifty 50, Indian benchmark indexes, achieved record highs in the previous trading session. The Sensex reached a new high of 80,716.55, while the Nifty closed at an all-time high of 24,613. The optimism was attributed to foreign institutional inflows and positive cues from Wall Street, where the Dow set a new record. However, concerns about volatility remain high, with the India VIX above 14 levels.

Rachel Adams

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