2 days Ago
The stock markets will remain closed for trading on Wednesday, November 20, due to elections in Maharashtra. NSE The National Stock Exchange of India (NSE) and BSE have announced a trading holiday due to polling across the state, including Mumbai. No trading activities will take place in the equity, Futures & Options (F&O), and Securities Lending and Borrowing (SLB) segments on this day.
Equity benchmark indices Sensex and Nifty bounced back on Tuesday (November 19) after days of downtrend on value-buying at lower levels and rally in blue-chip stocks HDFC Bank, Tech Mahindra and M&M. Snapping its four days of decline, the BSE benchmark Sensex climbed 239.37 points or 0.
31% to settle at 77,578.38. However, fag-end decline in Reliance Industries restricted the market rally.
During the day, it zoomed 1,112.64 points or 1.43% to 78,451.
65. Also Read: 'Subscribe' or 'Avoid' - What should investors do with the ₹10,000 crore NTPC Green IPO The NSE Nifty also bounced back after falling in the past seven trading days. It went up by 64.
70 points or 0.28 per cent to settle at 23,518.50.
From the 30-share Sensex pack, Mahindra & Mahindra, Tech Mahindra, HDFC Bank, Titan, Tata Motors, UltraTech Cement, Power Grid and Infosys were the biggest gainers. In contrast, Reliance Industries, State Bank of India , Bajaj Finserv, Maruti, Tata Steel and Bharti Airtel were among the laggards. Foreign Institutional Investors (FIIs) offloaded equities worth ₹ 1,403.
40 crore on Monday, while Domestic Institutional Investors (DIIs) bought shares worth ₹ 2,330.56 crore, according to exchange data. The state government has declared a public holiday on November 20 on account of voting.
All 288 Assembly seats in the state will go to polls in a single phase on Wednesday. The counting of votes is scheduled for Saturday, November 23, 2024. Also Read: Sensex 2025-end target cut to 90,520 from 1,00,080 by HSBC with two top stock picks The Maharashtra election holiday marks the third market holiday this month, following the closure of trading on account of Diwali on November 1 and Guru Nanak Jayanti on November 15.
The next and final trading holiday in the calendar year 2024 will fall on Christmas, December 25. The Maharashtra Assembly elections are a significant political event, and market participants will closely monitor the outcome. Any potential policy shifts or announcements by the newly-elected government could influence key sectors, particularly those reliant on state-level policies, such as infrastructure and real estate.
The Indian stock market operates from Monday to Friday, with trading hours from 9:15 AM to 3:30 PM, preceded by a pre-open session between 9:00 AM and 9:15 AM. The market remains closed on weekends and designated public holidays. Also Read: Honasa Consumer shares have halved from their peak after 35% drop in two sessions.
