Stock Market Holiday: BSE and NSE Closed on Friday for Guru Nanak Jayanti 2024

The Indian stock market is closed on Friday, November 15, due to the celebration of Guru Nanak Jayanti, a public holiday. This closure affects trading activities at both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), with no trading taking place today across various segments.

Indian Stock Market Closed for Guru Nanak Jayanti Holiday

As a result of the holiday, there will be no market activity in the Equity Segment, Equity Derivative Segment, SLB Segment, or the Currency Derivatives Segments. Other affected segments include NDS-RST, Tri Party Repo, and Electronic Gold Receipts (EGR).

Meanwhile, the Multi Commodity Exchange (MCX) and National Commodity Exchange (NCDEX) will also be closed for the day from 9:00 am to 5:00 pm, with trading expected to resume at 5:00 pm.

This marks the second stock market holiday in November, with the first being the Diwali/Laxmi Puja holiday earlier this month. Looking ahead, there are two more stock market holidays scheduled for the year.

The next one will be on November 20, when the stock exchanges will remain closed due to the Maharashtra Assembly elections. The final market holiday will be on December 25, for Christmas.

Upcoming Stock Market Holidays in November and December

November is shaping up to be a month with several market closures. The first stock market holiday of the month took place for Diwali, followed by today’s Guru Nanak Jayanti, and the next one will occur on November 20 due to the Maharashtra elections.

This frequent closure of the stock markets in November has had an impact on trading volumes and overall market sentiment.

Meanwhile, the Sensex and Nifty have been experiencing a prolonged losing streak, having faced six consecutive sessions of decline.

This downturn is primarily attributed to selling pressures from foreign institutional investors (FIIs) and the growing concerns about rising retail inflation in the country.

The persistent inflationary pressures have led to cautious sentiment in the market, resulting in a sell-off across several sectors, most notably in the fast-moving consumer goods (FMCG) sector.

The rising prices of goods have put a strain on the margins of FMCG companies, which has contributed to substantial losses in FMCG stocks during recent trading sessions.

Despite these challenges, the stock exchanges will observe another holiday on November 20, when voters in Maharashtra head to the polls for the 288-member legislative assembly elections.

The vote counting will take place on November 23. On this day, both the NSE and BSE will remain closed for trading in equity, equity derivatives, and SLB segments.

In contrast, the MCX will operate on a partial schedule, closing from 9:00 am to 5:00 pm, but will reopen from 5:00 pm until late in the evening, allowing market participants to engage in commodity derivatives trading.

Sensex and Nifty on Six-Session Losing Streak Amid Inflation Concerns

These closures come amidst a turbulent time for Indian markets, which have been struggling with investor sentiment due to rising inflation. Foreign institutional investors have been net sellers, reflecting their concerns about the economic outlook.

The FMCG sector has been particularly hard-hit, as inflation continues to erode the purchasing power of consumers. With the festive season over and the economy still facing challenges, FMCG stocks remain under pressure, and analysts are closely monitoring any signs of stabilization in the sector.

Market participants are looking for signs of improvement, but with inflation still high and global economic factors contributing to the pressure on Indian equities, the outlook remains cautious.

As the Indian stock market heads into another holiday on November 20, market participants will be hoping that the upcoming months bring more stability.

The outlook for December’s final stock market holiday also adds to the quiet period in the market, with the year’s closing expected to reflect the challenges that investors have faced throughout 2023.

The recovery of sectors like FMCG and a resolution to inflationary concerns will be pivotal in shaping the market’s trajectory in the months to come.