Stay updated on Indian stock market closures due to General Elections (Lok Sabha) today. Get insights into May 2024 holiday schedule, previous session performance, and expert outlook. Utilize this time for investment strategy review and research. Visit BSE and NSE https://www.nseindia.com/websites for more information
Indian Stock Markets Closed Today Due to General Elections (Lok Sabha)
Today, Indian equity benchmarks will remain closed, as announced by the Bombay Stock Exchange (BSE) website. This closure is in observance of the “General Elections (Lok Sabha)” being held across the country. Notably, the equity segment, equity derivative segment, and the SLB (Security Lending and Borrowing) segment will all be non-operational. Additionally, the currency derivatives, commodity derivatives, and electronic gold receipts segments will also be closed.
Stock Market Holidays in May 2024
In May 2024, there are a total of 11 stock market holidays, including weekends. During the previous session, on Saturday, the headline index NSE Nifty closed 36 points or 0.16% higher at the 22,502-level. The 30-share BSE pack settled 89 points or 0.12% up at 74,006. Notably, bourses were open on May 18 due to a special trading session.
Performance in the Previous Session
Mid- and small-cap shares also saw positive movements, with the Nifty Midcap 100 up 0.51% and Nifty Smallcap 100 rising 0.82%. However, the India VIX, fear index, jumped 3.67% to the 20.53-level.
Sectoral Performance
All 16 sectoral indices on NSE settled in the green during the previous session. Notably, sub-indices such as Nifty Media, Nifty Consumer Durables, Nifty Oil & Gas, and Nifty Realty outperformed the index, rising by 1.24%, 0.48%, 0.47%, and 0.78%, respectively.
Nifty Outlook
According to Rupak De, Senior Technical Analyst at LKP Securities, “Nifty remains within the channel, closing above 22,500 for the first time in several days. However, a small-bodied candle on daily charts suggests very little about the future direction of the price. Additionally, heavy writing is visible in both ‘CALL’ and ‘PUT’ at 22,500, indicating a sense of inflection. Therefore, traders need to be watchful in the initial hour to confirm any directional move. Support is visible at 22,400. On the higher end, a sustained move can take the index towards 22,600 and higher in the short term.”
Frequently Asked Questions (FAQ)
Q: Why are Indian stock markets closed today?
A: Indian stock markets are closed today due to the General Elections (Lok Sabha) being conducted across the country.
Q: How many stock market holidays are there in May 2024?
A: In May 2024, there are a total of 11 stock market holidays, including weekends.
Q: What was the performance of the Nifty and BSE indices in the previous session?
A: In the previous session, the Nifty closed 36 points higher, while the BSE pack settled 89 points up.
Q: What is the outlook for the Nifty index according to analysts?
A: According to analysts, the Nifty remains within a channel, with support at 22,400 and a potential move towards 22,600 and higher in the short term.
Call-to-Action
While the stock markets are closed today, investors can utilize this time to review their investment strategies, conduct research, and stay informed about market developments. Remember to exercise caution and seek professional advice before making any investment decisions.
Additional Resources
For more information and updates on Indian stock markets, investors can visit the official websites of the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
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