Indian stock markets observe Gandhi Jayanti holiday, trading activities paused

  • Stock Market News
Indian stock markets observe Gandhi Jayanti holiday, trading activities paused
Credit: © Reuters.

Trading activities on the Indian stock markets, including the National Stock Exchange (NSE) and BSE, were paused today, Monday, due to the observance of Mahatma Gandhi Jayanti. All segments including equity, equity derivatives, Securities Lending and Borrowing (SLB), currency derivatives, commodity derivatives, and Electronic Gold Receipts (EGR) remained closed for the day.

The closure of trading activities is in line with the list of stock market holidays for 2023 available on the stock exchanges' websites. The next market holiday after Gandhi Jayanti is scheduled for October 24, Tuesday, in observance of Dussehra. For the remainder of 2023, four more stock market holidays are planned: Diwali Balipratipada (November 14, 2023), Gurunanak Jayanti (November 27, 2023), and Christmas (December 25, 2023). A special "muhurat" trading session is also expected to be held on November 12 on the occasion of Diwali – Laxmi Pujan.

Last week, Indian stock market indices Sensex and Nifty 50 ended with gains on Friday. The Sensex closed higher by 320.09 points or 0.49% at 65,828.41, while Nifty 50 gained 114.75 points or 0.59% to end at 19,638.30. This performance was driven by positive global cues as investors shifted focus to the Reserve Bank of India's (RBI) monetary policy meeting this week and upcoming quarterly earnings.

For the month of September, Nifty 50 ended with a gain of 2% while Sensex rose by 1.5%. The BSE Smallcap index also increased about a percent while the BSE Midcap index jumped 3.7%. However, foreign portfolio investors (FPIs) emerged as net sellers in September amid record-high US bond yields and a stronger US dollar . FPIs sold ₹14,768 crore (INR100 crore = approx. USD12 million) worth of Indian equities and offloaded a total of ₹13,810 crore as of September 29, taking into account debt, hybrid, debt-VRR, and equities, according to National Securities Depository Ltd (NSDL) data.

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