Indian stock markets closed on Nov 5 for Guru Nanak Jayanti; trade to resume tomorrow

Mumbai, Nov 5 (IANS) The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) remained closed on Wednesday on account of Prakash Gurpurb Sri Guru Nanak Dev, also known as Guru Nanak Jayanti.

Trading across segments, including equities, derivatives, securities lending and borrowing (SLBs), currency derivatives, and interest rate derivatives, stayed shut for the day.

The commodity derivatives market was also closed in the morning session between 9 am and 5 pm but will open for the evening session from 5 pm to 11:30/11:55 pm.

Regular trading on both exchanges will resume on Thursday (November 6).

On Tuesday, Indian stock markets ended lower, with the Nifty slipping below the 25,600 mark amid broad-based selling pressure.

The Sensex fell 519.34 points, or 0.62 per cent, to close at 83,459.15, while the Nifty dropped 165.70 points, or 0.64 per cent, to end at 25,597.65.

The BSE Midcap index declined 0.2 per cent, and the Smallcap index fell 0.7 per cent.

Among major Nifty stocks, Power Grid Corp, Coal India, Tata Motors Passenger Vehicles, Bajaj Auto, and Eternal were the top losers.

On the other hand, Titan Company, Bharti Airtel, Bajaj Finance, HDFC Life, and M&M gained during the session.

Barring telecom and consumer durable sectors, all other indices ended in the red. IT, auto, FMCG, metal, power, realty, and PSU indices slipped between 0.5 to 1 per cent.

Market analysts said that the Nifty has retested its 20-day exponential moving average (EMA). A sustained move below this level could weaken the positive sentiment and extend the correction toward 25,400.

“On the higher side, 25,800 is likely to act as an immediate resistance level. Traders have been advised to remain cautious and focus on risk management until a clear market direction emerges,” experts said.

--IANS

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