The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will be closed on Thursday, August 15, 2024, in observance of Independence Day. This means that all trading activities, including equities, equity derivatives, and the securities lending and borrowing (SLB) segment, will remain shut for the day. The markets are scheduled to reopen for trading on Friday, August 16.
In addition to the stock exchanges, commodity market trading will also be suspended for the entire day on August 15. This includes 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, with no holidays scheduled for September.
Looking ahead, the next stock market holiday is on October 2 for Gandhi Jayanti. Following the closure for Gandhi Jayanti, the market will also be closed on November 1 for Diwali. Markets will then remain closed on November 15 in observance of Gurunanak Jayanti, and the last planned holiday for 2024 will be on December 25 for Christmas.
As for the stock market update, both market indices – Sensex and Nifty 50 – had a mixed finish on Wednesday following a volatile trading session. The Nifty IT index outperformed the other major industry indices, seeing a 1.5% increase on August 14. The 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%.
In terms of technical analysis, the Nifty index is currently below the resistance level of the 34-Day Exponential Moving Average (DEMA) at 24,230, indicating ongoing weakness. 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, on the other hand, opened marginally negative and closed negatively at 49,727 levels, finding support near 49,650-49,660 levels.
Overall, the market holiday on August 15 provides traders and investors with a day to reflect on the significance of Independence Day and take a break from the usual trading activities. It is important to stay informed about upcoming market holidays and plan trading strategies accordingly to navigate the stock market effectively.