Share market holiday: BSE, NSE to remain shut today for Gurunanak Jayanti

The National Stock Exchange of India (NSE) and the BSE will remain shut on November 8 on account of the Gurunanak Jayanti.

Wholesale commodity markets, including metal and bullion, will also remain closed. There will be no trading activity in the forex and commodity futures markets either.

On November 7, the Sensex gained 234.79 points or 0.39 percent to close at 61,185.15, and the Nifty was up 85.60 points or 0.47 percent to 18,202.80.

Britannia, SBI, Adani Enterprises, BPCL and Eicher Motors were the top Nifty gainers, while Divis Labs, Asian Paints, Cipla, Bajaj Finserv and Adani Ports were the top losers.

Among sectors, the metal index closed with a gain of 1.6 percent while auto edged up 1.3 percent. Nifty Oil & Gas and Realty indices gained nearly 1 percent each.

BSE midcap and smallcap indices climbed 0.6 percent each.

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“Although markets witnessed a roller-coaster ride in the intra-day session, key indices maintained their upward bias on the back of firm global cues. Another positive factor has been the sharp fall in the rupee level against the dollar, which, if continues, could further bolster foreign institutional investors buying into local shares,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.

“Technically, the Nifty is holding a higher bottom formation but at the same time, it is consistently taking resistance near 18,260 levels. In addition, on daily charts, the index has formed a Doji candlestick pattern which is indicating indecisiveness between the bulls and bears,” Chouhan said.

“For trend-following traders, 18,050 and 18,000 would act as key support levels. If the index trades above 18,050, it could hit 18,300-18,350 levels. On the flip side, below 18,050, Nifty could retest the level of 17,950-17,900.”

The rupee ended 51 paise higher at 81.91 per dollar on Monday versus Friday’s close of 82.43.