Stock market holiday: BSE, NSE to remain closed today on account of Ganesh Chaturthi

Indian equity benchmarks would remain closed on Tuesday, as per the BSE website. The domestic benchmarks would be shut today to mark Ganesh Chaturthi. The equity segment, equity derivative segment and the SLB (Security Lending and Borrowing) segment would also remain closed. Commodity markets would be closed for the morning session but it would be open for the evening session. In September 2023, there are 10 stock market holidays in total, including Saturdays and Sundays.

In the previous session, Indian equity benchmarks settled lower, dragged by technology, metal and financial stocks. The 30-share BSE Sensex pack slipped 242 points or 0.36 per cent to close at 67,597, while the broader NSE Nifty index moved 59 points or 0.29 per cent down to end at 20,133.

Mid and smallcap shares also finished on a weak note, with the Nifty Midcap 100 down 0.42 per cent and Nifty Smallcap 100 falling 0.54 per cent. Fear index India VIX fell 0.61 per cent to 10.84.

Domestic indices consolidated after the recent spike as traders took a cautious approach ahead of several monetary policy decisions this week including from the US Federal Reserve, the Bank of England and others, said Prashanth Tapse, Senior VP (Research) at Mehta Equities.

10 out of the 15 sectoral indices on NSE settled in the red. Sub-indices Nifty IT, Nifty Metal and Nifty Financial Services underperformed the index by falling 0.68 per cent, 1.11 per cent and 0.60 per cent, respectively. In contrast, Nifty PSU Bank, Nifty Auto and Nifty FMCG were among the top gainers, rising 3.39 per cent, 0.84 per cent and 0.58 per cent, respectively.

On BSE, index heavyweights such as HDFC Bank, Reliance Industries, Infosys, Bharti Airtel, Kotak Mahindra Bank and ICICI Bank slipped up to 1.98 per cent. Also, VIL, Jaiprakash Associates, Raymond, GTL Infra, Century Textiles, Poly Medicure, Syngene International and ITI declined up to 6.82 per cent.

However, BSE all-cap stocks such as KIOCL, Indian Overseas Bank, UCO Bank, EaseMyTrip, Punjab & Sind Bank, Central Bank of India and Tata Investment Corporation, Bank of Maharashtra, Varroc Engineering, IDBI Bank and Indian Bank jumped up to 19.99 per cent.

Out of a total of 3,947 stocks that traded during the day on BSE, 2,143 settled with losses while 1,642 others ended higher. The rest 162 stocks stayed unchanged.

The domestic bourses would reopen on September 20.

Technical view: Nifty outlook

Nifty has support at 20,017 and 19,821 levels, while the index faces stiff resistance at 20,211-20,601 levels, Tapse stated.

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