Indian Stock Market Closed for Diwali Balipratipada

Indian Stock Market Closed for Diwali Balipratipada

VoM News Desk | November 14, 2023 | 06:54 AM IST | Breaking News | Follow on Google News

Indian Stock Market Closed for Diwali Balipratipada

Indian Stock Market Closed for Diwali Balipratipada

The Indian stock market observes a holiday today, November 14, 2023, in celebration of Diwali Balipratipada. All trading activities, including the equity segment, equity derivatives segment, SLB segment, and currency derivatives market, are suspended for the day.

Commodity Trading Schedule

The Multi Commodity Exchange (MCX) will also remain closed during the first half of the day and will resume operations in the second half, starting at around 5 p.m. Currency derivatives and interest rate derivatives segments will remain closed throughout the day.

Significance of Diwali Balipratipada

Diwali Balipratipada, celebrated on the fourth day of Diwali, holds significant cultural importance. It marks the victory of Lord Vishnu in his Vamana avatar over the demon-king Bali, and the return of the demon-king to the world. This day is observed on the first day of the bright lunar fortnight in the Hindu month of Kartika.

Upcoming Stock Market Holidays

In addition to today’s holiday, the stock market will observe another closure on November 27 for Gurunanak Jayanti. December will see a holiday on the 25th due to Christmas.

Performance of Nifty 50 and Sensex on November 13

On Monday, November 13, both Nifty 50 and Sensex closed on a lower note amid mixed global cues, influenced by elevated US treasury yields and a strong dollar. Nifty 50 dropped by 82 points, closing at 19,443.55, while Sensex ended the day down by 326 points at 64,933.87. However, mid and smallcap indices showed marginal outperformance.

Muhurat Trading Highlights

During the special one-hour Muhurat trading session on November 12, marking the beginning of Samvat 2080, both benchmark indices recorded gains. Nifty 50 closed 100 points higher, while Sensex ended up by 355 points.

Market Outlook for Samvat 2080

Market experts remain optimistic about the domestic market’s growth trajectory for Samvat 2080, citing India’s strong macroeconomic fundamentals and resilience against global headwinds. The current market optimism is supported by various factors, including the Federal Reserve’s monetary policies, healthy GST collections, active retail participation, stabilizing conditions in the Middle East, and declining WTI oil prices.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.