Stock market holiday: BSE, NSE to remain closed today on account of Ambedkar Jayanti
Stock market holiday: The 30-share benchmark BSE Sensex pack edged 38 points, or 0.06 per cent, higher to settle at 60,431 on Thursday, while the broader NSE Nifty index closed 16 points, or 0.09 per cent, up at 17,828.
- Apr 14, 2023,
- Updated Apr 14, 2023 8:16 AM IST
Indian equity benchmarks would remain closed on Friday, as per the BSE website. The domestic benchmarks would be shut today to mark the birth anniversary of Dr BR Ambedkar. The equity derivative segment, equity segment and the SLB (Security Lending and Borrowing) segment would also remain closed.
Commodity markets would be closed for the morning session and trading would be open during the evening session (5:00 pm to 11:30/11:55 pm).
In April 2023, the total count of stock market holidays came at 13, including Saturdays and Sundays.
Yesterday, the domestic benchmarks extended their gains for the ninth straight session in a highly volatile trading session. The 30-share benchmark BSE Sensex pack edged 38 points, or 0.06 per cent, higher to settle at 60,431, while the broader NSE Nifty index closed 16 points, or 0.09 per cent, up at 17,828.
Mid and smallcap shares finished higher, with the Nifty Midcap 100 up 0.20 per cent and Nifty Smallcap 100 rising 0.29 per cent. Fear index India VIX fell 2.97 per cent to 11.91.
10 out of the 15 sectoral indices on NSE settled in the green. Sub-indices Nifty Bank, Nifty PSU Bank, Nifty Private Bank and Nifty Financial Services outperformed the index by rising 1.38 per cent, 1.45 per cent, 1.06 per cent and 0.81 per cent, respectively. In contrast, Nifty IT, Nifty Pharma and Nifty Oil & Gas settled in the red.
On BSE, AU Small Finance Bank, IDBI Bank, Gurajat Ambuja Exports and Welspun India jumped up to 17.08 per cent.
"Despite being a truncated week, the bulls added another 1.30 per cent to their kitty on a week-on-week basis. With this, prices have comfortably closed above the March swing high of 17,800 (Nifty). This is a very positive development because prices have broken above a major swing high for the first time in this calendar year. From a technical perspective, there is a 'Rounding bottom' formation visible on the daily time frame chart, which augurs well for the bulls," said Rajesh Bhosale, Technical Analyst at Angel One.
"The major action during the week was seen outside the index as many front-line and mid-cap counters gave mesmerizing moves. Traders should continue to focus on such potential movers; however, one needs to be very selective as the low-hanging fruit is already gone," Bhosale added.
Technical view: Nifty outlook
"The trend is likely to remain positive as long as it stays above 17,700. On the higher end, 18,000 will likely act as a crucial resistance," said Rupak De, Senior Technical Analyst at LKP Securities.
Nifty Bank outlook
"The index remains in buy mode and will likely move towards 42,440-42,680 levels on the upside. On the lower end, Bank Nifty has support at 41,800; as long as this support is not breached, the trend remains positive," De stated.
Watch: Ambedkar Jayanti Holiday on April 14: Is Indian stock market closed today? Check details
Indian equity benchmarks would remain closed on Friday, as per the BSE website. The domestic benchmarks would be shut today to mark the birth anniversary of Dr BR Ambedkar. The equity derivative segment, equity segment and the SLB (Security Lending and Borrowing) segment would also remain closed.
Commodity markets would be closed for the morning session and trading would be open during the evening session (5:00 pm to 11:30/11:55 pm).
In April 2023, the total count of stock market holidays came at 13, including Saturdays and Sundays.
Yesterday, the domestic benchmarks extended their gains for the ninth straight session in a highly volatile trading session. The 30-share benchmark BSE Sensex pack edged 38 points, or 0.06 per cent, higher to settle at 60,431, while the broader NSE Nifty index closed 16 points, or 0.09 per cent, up at 17,828.
Mid and smallcap shares finished higher, with the Nifty Midcap 100 up 0.20 per cent and Nifty Smallcap 100 rising 0.29 per cent. Fear index India VIX fell 2.97 per cent to 11.91.
10 out of the 15 sectoral indices on NSE settled in the green. Sub-indices Nifty Bank, Nifty PSU Bank, Nifty Private Bank and Nifty Financial Services outperformed the index by rising 1.38 per cent, 1.45 per cent, 1.06 per cent and 0.81 per cent, respectively. In contrast, Nifty IT, Nifty Pharma and Nifty Oil & Gas settled in the red.
On BSE, AU Small Finance Bank, IDBI Bank, Gurajat Ambuja Exports and Welspun India jumped up to 17.08 per cent.
"Despite being a truncated week, the bulls added another 1.30 per cent to their kitty on a week-on-week basis. With this, prices have comfortably closed above the March swing high of 17,800 (Nifty). This is a very positive development because prices have broken above a major swing high for the first time in this calendar year. From a technical perspective, there is a 'Rounding bottom' formation visible on the daily time frame chart, which augurs well for the bulls," said Rajesh Bhosale, Technical Analyst at Angel One.
"The major action during the week was seen outside the index as many front-line and mid-cap counters gave mesmerizing moves. Traders should continue to focus on such potential movers; however, one needs to be very selective as the low-hanging fruit is already gone," Bhosale added.
Technical view: Nifty outlook
"The trend is likely to remain positive as long as it stays above 17,700. On the higher end, 18,000 will likely act as a crucial resistance," said Rupak De, Senior Technical Analyst at LKP Securities.
Nifty Bank outlook
"The index remains in buy mode and will likely move towards 42,440-42,680 levels on the upside. On the lower end, Bank Nifty has support at 41,800; as long as this support is not breached, the trend remains positive," De stated.
Watch: Ambedkar Jayanti Holiday on April 14: Is Indian stock market closed today? Check details