Stock market investors in India are enjoying a day off today as the Indian stock market is closed for Ram Navami celebrations. Both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) are shut for trading, giving traders and investors a break to celebrate the birth anniversary of Lord Ram.
According to the official holiday list for 2024, April 17 has been marked as a trading holiday for Ram Navami. This means that all trading activities in the equity, derivative, and currency segments are suspended for the day at both BSE and NSE. However, the Commodity Derivative Segment on the Multi Commodity Exchange of India Limited (MCX) will be open for the evening session from 5 pm to 11:30/11:55 pm.
Looking ahead, investors can mark their calendars for the next stock market holiday on May 1, which is Maharashtra Day. Additionally, there will be another holiday on May 20 due to the Lok Sabha elections in Mumbai.
In terms of market performance, the Sensex and Nifty 50 indices have been on a downward trend, closing lower for the third consecutive session on Tuesday. The fall has been attributed to various factors including the Iran-Israel conflict, rising US dollar and Treasury yields, and selling pressure from Foreign Institutional Investors (FIIs).
On Tuesday, FIIs were net sellers of Indian shares worth ₹4,468.09 crore, while Domestic Institutional Investors (DIIs) were net buyers of shares worth ₹2,040.38 crore. This indicates a mixed sentiment in the market with foreign investors pulling out while domestic investors continue to show interest.
Overall, the Indian stock market is experiencing a mix of celebrations and market fluctuations, providing investors with a day off to recharge before diving back into trading activities.
