Stock market holiday today: BSE and NSE will be closed for Maharashtra Day.

On Thursday, May 2, trading on the NSE and BSE will restart.

Due to Maharashtra Day (Labour Day), the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will be closed on May 1. The trading of interest rate derivatives, stocks, SLBs, currency derivatives, and derivatives involving derivatives will all be closed for the day.

The morning session, which runs from 9 a.m. to 5 p.m., will see the commodities derivatives sector stay closed, while the evening session will continue to operate from 5 p.m. to 11:55 p.m.

NSE and BSE trading will resume on Thursday, May 2.

All intraday gains were lost on April 30 in the very tumultuous session, when selling was evident in the IT, metal, media, and oil & gas names.

The Nifty was down 38.60 points, or 0.17 percent, at 22,604.80, while the Sensex was down 188.50 points, or 0.25 percent, at closing.

Top gainers on the Nifty were M&M, Power Grid Corporation, Shriram Finance, Hero MotoCorp, and Bajaj Auto; losers were Tech Mahindra, BPCL, JSW Steel, HCL Technologies, and Sun Pharma.

While auto, power, and real estate all rose by more than a percent, IT, metal, media, oil & gas, and healthcare were all down 0.4–1%.

The smaller cap index was unchanged, while the BSE midcap index made new highs and ended 0.5 percent higher than the benchmarks.

“Nifty closed weakly after running into resistance close to the prior swing high, indicating selling pressure. The fact that other measures like the 50-day and 20-day Simple Moving Averages (SMAs) are below the index value indicates that the current upward trend is still intact. Senior Technical Analyst Rupak De of LKP Securities notes that the Relative Strength Index (RSI) also shows a bullish crossing.

“Unless the headline index rises above the all-time high of 22783, the trend may stay sideways for the next several days. Immediate support on the downside is seen around 22500, below which the index may fall much further,” he said.

After closing on Monday at 83.47, the Indian rupee finished Tuesday slightly higher at 83.43 per dollar.

“The dollar index was neutral while the rupee was steady at around 82.42. The range of the rupee was maintained by capital market volatility. For any price movement in the rupee, participants are eagerly watching the US interest rate announcement coming up. Though in a steady way, the rupee is still weak,” says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like