Stock market holiday today: BSE, NSE to remain closed for Ram Navami

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed on April 17 on account of Ram Navami. Trading in derivatives, equities, SLBs, and currency derivatives, as well as in interest rate derivatives will remain shut for the day.

The commodity derivatives segment will remain closed in the morning session – from 9am to 5pm, while the evening session will be remain open from 5pm to 11.55pm.

Trading on both the NSE and the BSE will resume on Wednesday, April 18.

On April 16, the Sensex and the Nifty closed lower for a third straight session, tracking weakness in global markets amid a worsening situation in West Asia. Rising US treasury bond yields, which shot to a five-month high, also weighed on investors’ risk appetite.

At close, the Sensex was down 456.10 points or 0.62 percent at 72,943.68, while the Nifty 50 fell 124.60 points or 0.56 percent at 22,147.90.

The broader market, however, managed to remain above water, with the BSE SmallCap index gaining 0.6 percent and the MidCap index closing flat.

Nifty IT and Nifty Financial Services indices were the biggest laggards among the sectoral indices. While Nifty IT fell 2.6 percent, Nifty PSU Bank shed 1.3 percent.

On the other hand, Nifty Pharma and Nifty FMCG ended 0.4 percent higher, emerging as the top gainers amongst sectoral indices.

“The domestic market sustained its consolidation trend for the third consecutive day, amid apprehensions regarding geopolitical tensions and drop in the probability of a cut rate in the short-term. Heightened concerns arose following stronger-than-anticipated US retail sales, amplifying the assumption that the US Federal Reserve might delay rate cuts, leading to a notable uptick in the dollar index and US bond yields,” said Vinod Nair, head of research at Geojit Financial Services.

“The IT sector saw the most significant decline, primarily due to expectations of earnings being affected by the weak discretionary spending in the US and muted domestic Q4 results,” he added.

On Tuesday, the rupee ended at record low of 83.53 against the dollar, down 8 paise from Monday’s closing of 83.45.