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Wednesday, February 8, 2023

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Is the stock market open today? Here’s what investors need to know

Is the stock market closed today? Indian stock markets, the BSE (formerly known as the Bombay Stock Exchange) and the National Stock Exchange of India (NSE), will remain closed for trading on January 26 for Republic Day. This day is marked as a public holiday in the BSE Trading Holiday Calendar, and is one of 15 trading holidays in 2023. The next trading holiday is on 7 March on the occasion of Holi.

It should be noted that weekends are not included in the BSE and NSE holiday calendar.

Wholesale markets for commodities, including metal and precious metals, also remain closed. There will also be no trading activity in the forex and commodity futures markets.

India Scholarship Holiday 2023 – Complete List

Holi – March 07, 2023

Ram Navami – March 30, 2023

Mahavir Jayanti – Apr 04, 2023

Good Friday – April 07, 2023

Dr. Baba Saheb Ambedkar Jayanti – Apr 14, 2023

Maharashtra Day – May 1, 2023

Bakri Id – June 28, 2023

Independence Day – August 15, 2023

Ganesh Chaturthi – September 19, 2023

Mahatma Gandhi Jayanti – 02 October 2023

Dussehra – October 24, 2023

Diwali Balipratipada – Nov 14, 2023

Gurunanak Jayanti – Nov 27, 2023

Christmas – December 25, 2023

Markets are getting nervous ahead of the Union’s 2023 budget

India’s benchmark indices lost more than 1 percent on Jan. 25, with the Nifty closing below 17,900 amid selloffs across all sectors, particularly energy, oil and gas and financials.

After a negative start, the market expanded sales during the day, with indices reaching a week-long low and Nifty breaking intraday as high as 17,900, but seeing some recovery from the day’s low.

The Sensex was down 773.69 points or 1.27 percent at 60,205.06 and the Nifty was down 226.30 points or 1.25 percent at 17,892.

Outlook for Friday, January 27, 2023

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities

Markets went into a tailspin as investors closed their positions on the last day of the M&A due date. Traders also liquidated their positions ahead of the Adani Enterprises FPO, while the migration from T2 to T1 settlement from Friday also led to some unloading.

While trade sentiment may remain volatile, the upcoming meeting of Budget and US Fed next week could lead to sharp sideways moves in coming sessions.

Technically, after a double top formation, the market witnessed a sharp correction. On the daily charts, the Nifty formed a long bearish candle and closed below 18,000, which is mostly negative.

As long as the index trades below 18,000, weak sentiment is likely to continue and below that, the index could retest the 17,800 level. Any further decline could drag the index to 17,700. On the other hand, above 18,000, the index could rise to levels of 18050-18100.

Ajit Mishra, VP – Technical Research, Religare Broking

The markets plunged sharply lower on monthly expiration, closing down more than one percent. After the flat start, the Nifty index fell gradually in the first half and then remained in a narrow band. It eventually settled at levels of 17891.95; decreased by 1.25%.

Meanwhile, selling pressure was widespread, with banks and financials losing at maximum, followed closely by energy and real estate counters. The broader indices also traded along with the trend, falling between 1% and 1.5%.

This decline has once again pushed the Nifty index closer to the lower band of the prevailing consolidation range, which is 17750 levels, and indications from the banking package, which has significant weight in the index, point to more pain ahead. We reiterate our view to favor hedged positions and suggest adding some shorts as well.

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