Stock market holidays 2024: BSE, NSE to be shut on Thursday, April 11, for Ramzan Id

Stock exchanges BSE and NSE would be shut on Thursday, April 11, on account of Id-Ul-Fitr (Ramzan Eid). This would be the first of three trading holidays the market will observe over the next three weeks. To recall, March had three trading holidays on Mahashivratri, Holi and Good Friday.

This Thursday, the domestic market would observe Id-Ul-Fitr. Commodity and currency derivatives segments would also be shut on April 11. Malaysia, Saudi Arabia, Bangladesh, Indonesia, Kenya and Pakistan, would be among two dozen markets that would stay closed on the day.

Besides April 11, the domestic market will be closed on April 11 and May 1 on account of Ram Navami and Maharashtra Day. Stock exchanges have also declared trading holiday on May 20 as due to the Lok Sabha elections voting in the state.

On Tuesday, the benchmark stock indices hit fresh record high before seeing bouts of profit booking ahead of the US inflation data. The BSE Sensex hit a record high of 75,124.28, before closing the day 58.80 points, or 0.08 per cent, lower at 74,683.70. Nifty also hit a record high of 22,768.40. It eventually settled the day at 22,642.75, down 23.55 points or 0.1 per cent.

  Vinod Nair, Head of Research at Geojit Financial Services said US inflation data carries weight in determining future rate cuts by the US Fed.

"Concerns have emerged amidst recent better-than-anticipated US employment and manufacturing data, suggesting a potential shift in expectations regarding rate cuts this year. Moreover, escalating geopolitical tensions in the Middle East, alongside supply concerns, have propelled crude prices upward, impacting overall market sentiment," Nair said.

This analyst sees the market focus to shift to Q4 earnings, which will kick off later this week. The market would resume trade on Wednesday.