Stock market holiday: BSE, NSE to remain closed today on account of ‘General Elections (Lok Sabha)’
Stock market holiday: Both the leading exchanges NSE and will BSE will remain shut on Monday, May 20 on account of general elections (Lok Sabha) as per the holiday calendar available on the BSE.
Stock market holiday: NSE Nifty on Saturday closed 36 points or 0.16 per cent higher at 22,502-level. The 30-share BSE pack settled 89 points or 0.12 per cent up at 74,006. Bourses were open on May 18 due to a special trading session.
The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed on today, May 20, on account of the fifth phase of voting for the General Elections (Lok Sabha). Trading in derivatives, equities, SLBs, and currency derivatives, as well as in interest rate derivatives will remain shut for the day.
Stock market holiday The commodity derivatives segment will remain closed in the morning session – from 9am to 5pm, while the evening session will remain open from 5pm to 11.55pm.
Trading on both the NSE and the BSE will resume on Tuesday, May 21.
On May 18, in the special trading session, the domestic markets extended in the green for the third straight session with the Sensex and Nifty closing with 0.1 percent gains. Broader markets, meanwhile, outperformed benchmark indices.At close, the Sensex was up 88.91 points or 0.12 percent at 74,005, and the Nifty was up 35.90 points or 0.16 percent at 22,502
Top performers
Among sectors, Nifty Media index was the top performer led by gains in Zee Entertainment after the company reported a profit of Rs 13 crore in the January-March quarter (Q4FY24). Following this, Nifty Energy and Nifty Infrastructure also clocked slim gains of up to 0.3 percent each on May 18.
“The Nifty remains within the channel, closing above 22,500 for the first time in several days. However, a small bodied candle on the daily chart suggests very little about the future direction of the price. Additionally, heavy writing is visible in both Call and Put at the 22,500 strike, indicating a sense of inflection. Therefore, traders need to be watchful in the initial hour to confirm any directional move,” said Rupak De, Senior Technical Analyst, LKP Securities
“Support is visible at 22,400. On the higher end, a sustained move can take the index towards 22,600 and higher in the short term,” he added.On Friday, the Indian rupee ended 17 paise higher at 83.33 per dollar versus Thursday’s close of 83.50.
“The rupee traded positively, driven by the Indian capital market’s positive reaction to favorable voting counts and expectations of the current government continuing its run,” said Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities
“Domestic Institutional Investors (DII) inflows have contributed to the rupee’s stability, and the RBI’s strict zero-speculation norms have further checked any potential decline. In the coming sessions, the rupee is expected to trade in a positive range between 83.10 and 83.55,” he added. In an exclusive conversation with Sanjay Pugalia, chief editor of NDTV, the Prime Minister (PM) of India, Narendra Modi defended his government’s track record of creating jobs while brushing off criticism from the opposition on the subject. Furthermore, he noted that an increasing number of young people are considering stock market investment.
Indian equity benchmarks would be closed on Monday, as per the BSE website. The domestic benchmarks would be shut today to mark “General Elections (Lok Sabha)”. The equity segment, equity derivative segment and the SLB (Security Lending and Borrowing) segment would remain closed. Currency derivatives, commodity derivatives and electronic gold receipts segments would also be closed. In May 2024, there are 11 stock market holidays in total, including Saturdays and Sundays.
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