Indian financial markets (capital and currency markets) will remain closed today during Eid al-Adha (Bakrid). Trading in equities, derivatives, securities lending and borrowing (SLB) and currency derivatives segments on the BSE and NSE stock exchanges along with the foreign exchange market will resume tomorrow, June 18.
The Commodity Derivatives and Electronic Gold Receipts segments will be closed during the morning trading session, but trading will resume in the evening from 5:00 PM to 11:30 PM/11:55 PM.
Domestic benchmarks continued their strength in the previous session on Friday, led by gains in auto, consumer durables and healthcare stocks. The 30-share BSE pack rose 182 points or 0.24 per cent to 76,992.
There will be only one stock market holiday in June 2024, and according to the stock market holiday list, the next trading holiday will now be July 17 for Muharram. There will be a total of 15 public holidays in 2024.
The remaining trade holidays this year are July 17 for Muharram, August 15 for Independence Day, October 2 for Mahatma Gandhi Jayanti, November 1 for Diwali and 11 for Gurunanak Jayanti. December 15th, Christmas is December 25th.
friday stock market
The NSE Nifty index closed 67 points or 0.29 per cent higher at 23,466 after hitting an all-time high of 23,490.
Small and mid-cap stocks also closed in the green, with Nifty Midcap 100 up 1.05% and Nifty Smallcap 100 up 0.76%. India's VIX fear index fell 4.93% to 12.82.
On the BSE, frontline stocks such as HDFC Bank, Reliance Industries, M&M, Titan, Axis Bank, Tata Motors, Bajaj Finance and ITC were the main reasons for the gains. Also, Mazagon Dock Shipbuilders, SKF India, Chemplast Sanmar, J&K Paper and Suven Pharma rose up to 14.33%.
On the other hand, La Opala RG, KIOCL, Usha Martin, Aegis Logistics, Zensar Tech, V-Guard, Redington and CAMS fell by up to 3.47%.
Out of total 3,980 stocks traded on BSE during last session, 2,179 stocks ended higher while remaining 1,695 stocks closed lower. The remaining 106 stocks were unchanged.
great view
“Nifty remained within the defined range of 23,300-23,500. Near-term sentiment is likely to remain somewhat positive. Support levels can be seen at 23,400-23,300, where put writers have built up significant positions. A clear drop below this level could shift the market balance in favor of the bears. Until then, it is a ‘buy-on-dip’ market. “A decisive move above 23,500 at the upper end could lead to a sharp rally in the near term,” said Rupak De, senior technical analyst at LKP Securities.
Nifty Bank Outlook
“Nifty Bank continued its consolidation phase but failed to cross the 50,000 mark, which marks the highest accumulation of open interest on the call side. The index needs to clearly move above 50,200 to confirm an upward breakout towards the 51,000 level. The lower support is located in the 49,500-49,400 area, a break below this area would open the door for further decline towards 49,000,” said Kunal Shah, senior technical and derivatives analyst at LKP Securities.
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