Stock Market Holiday: Will the stock market be open on September 19?
Stock Market Holiday: On September 15, Indian equity indices continued their record run, with the Nifty crossing 20,200 for the first time amid mixed trend seen on the sectoral front.
The National Stock Exchange of India (NSE) and the BSE will remain shut on September 19 because of Ganesh Chaturthi.
Wholesale commodity markets, including metal and bullion, will also remain closed. There will be no trading in the forex and commodity futures markets, too.
On September 15, Indian equity indices continued their record run, with the Nifty crossing 20,200 for the first time amid mixed trends seen on the sectoral front.
At close, the Sensex was up 319.63 points or 0.47 percent at 67,838.63, while the Nifty gained 89.20 points or 0.44 percent at 20,192.30.
The biggest gainers were Bajaj Auto, Grasim Industries, M&M, Hero MotoCorp and Bharti Airtel, while losers included BPCL, Asian Paints, HUL, Jio Financial and Tata Consumer Products.
A mixed trend was seen among the sectors, with FMCG, oil & gas, power and realty down 0.4-1 percent, while auto, bank, pharma, and information technology rose 0.3-1 percent.
The BSE midcap and Smallcap indices ended on a positive note.
“Besides firm global market cues, investors are anticipating a halt in rate hike by the US Federal Reserve in its policy meeting amid moderating inflation, which would augur well for local markets already witnessing a strong upsurge. A status quo on rate hikes would further bolster investors’ sentiment as this would give a further leg up to the economy on hopes of softening interest rate stance going ahead,” said Amol Athawale, Vice President – Technical Research, Kotak Securities.
“A drop in US treasury yields has resulted in a recovery in world equity markets and a rub-off effect on local markets. On daily and weekly charts, the Nifty has formed a breakout continuation formation, indicating that the uptrend wave is likely to continue soon.”
“Although the larger texture of the market is bullish, the market is in temporary overbought conditions, and hence we could see some profit booking at higher levels. For short-term traders, 20075 and 20000 would act as key support zones while 20300-20375 could act as crucial resistance areas for the bulls,” he added.
On Friday, the Indian rupee ended 15 paise lower at 83.18 per dollar versus Thursday’s close of 83.03
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