The National Stock Exchange (NSE) and the BSE will be closed on Thursday, August 15, 2024, on account of Independence Day. All trading activities, including equities, equity derivatives, and the securities lending and borrowing (SLB) segment, will remain shut. The markets will reopen for trading on Friday, August 16.
Commodity market trading will be suspended for the entire day on August 15. This includes both the Commodity Derivatives Segment and Electronic Gold Receipts (EGR) Segment on the BSE, as well as all bullion, metals, and energy derivatives trading on the Multi Commodity Exchange of India Limited (MCX), for both the morning and evening sessions.
Today's market holiday is part of the 14 trading holidays scheduled for 2024, as mentioned in a circular issued by the stock exchanges last year. In August, Independence Day is the lone holiday. There are no holidays in September.
The next stock market holiday is on October 2 on account of Gandhi Jayanti. After the October 2 closure for Gandhi Jayanti, the market will also be closed on November 1 for Diwali.
Markets will also remain closed on November 15 in observance of Gurunanak Jayanti, to observe the birth anniversary of Guru Nanak, the founder of Sikhism. The last planned holiday for 2024 will be on December 25, when markets will shut for Christmas.
August 15 - Independence Day
October 2 - Gandhi Jayanti
November 1 - Diwali
November 15 - Gurunanak Jayanti
December 25 - Christmas
Both market indices - Sensex and Nifty 50 - had a mixed finish on Wednesday following a volatile trading session. Boosted by positive US economic data, the Nifty IT index outperformed the other 13 major industry indices. On August 14, the IT index saw a 1.5% increase, with TCS, HCLTech, and L&T Technology Services contributing to this rise.
The 30-share BSE Sensex gained 149.85 points or 0.19%, ending at 79,105.88, while the Nifty 50 closed at 24,143.75, up 4.75 points or 0.20%. In the broader market, the Nifty Midcap 100 increased by 0.59%, and the Nifty SmallCap 100 rose by 0.64%.
"Technically, the index on a daily scale formed a small red candle remaining below the resistance level of the 34-Day Exponential Moving Average (DEMA) at 24,230, signaling ongoing weakness. As long as the index stays below 24,230, the downward pressure is likely to persist. On the downside, the 50-DEMA provides support near 24,020, making the 24,000-24,020 range a critical support zone for Nifty in the short term.
The Bank Nifty index opened marginally negative and remained under pressure throughout the day, closing negatively at 49,727 levels. Technically, the index formed a red candle on the daily scale, indicating continued weakness. However, the index is finding support near the 49,650-49,660 levels. A sustained move below 49,650 could push the index toward the 49,000 level," said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd.
