Stock Market Holiday: BSE and NSE Will Be Closed Today Due To Bakri Eid
Due to Bakrid, Indian equities benchmarks will be closed on June 29. The holiday had previously been set for Wednesday, June 28.
Additionally, all wholesale commodities markets—including those for metal and bullion—will be shut down. The foreign exchange and commodities futures markets won’t be open for trade either.
The morning session of commodity markets would be closed, with trade taking place from 5:00 pm to 11:30/11:55 pm in the evening.
There are nine market holidays in June 2023, including Saturdays and Sundays.
On June 28, Indian markets reached a record high thanks to consistent, substantial inflows from international institutional investors. Investor optimism was also encouraged by the reduction of the current account deficit.
The Nifty reached an all-time high of 19,003.20 points, while the benchmark Sensex reached a record high of 64,012.16 points. At 1.30 p.m., the Nifty was up 0.94 percent or 177 points to 18,994.74 while the Sensex was up 0.88 percent or 561 points to 63,977 points.
“The Nifty finally succeeded in crossing its prior highs after attempting to do so multiple times over the last several days. The domestic market reached record highs due to strong institutional inflows, positive macroeconomic conditions, and solid earnings growth, according to Siddhartha Khemka, MOFSL’s head of retail research, broking, and distribution.
The Nifty Midcap 100 increased by 0.63 percent, while the Nifty Smallcap 100 increased by 0.35 percent, as mid- and small-cap shares ended the day higher. The India VIX fear gauge increased 1.02 percent to 10.89.
On the NSE, 14 of the 15 sectoral indexes finished in the green. By increasing 1.46 percent, 1.36 percent, 0.78 percent, 0.75 percent, 0.57 percent, and 0.57 percent, respectively, the sub-indices Nifty Pharma, Nifty Metal, Nifty Oil & Gas, Nifty Auto, and Nifty Financial Services beat the index. Nifty Media, in comparison, finished 0.67 percent lower.
The indexes rose as a result of increased buying activity in a few heavyweights, including Reliance Industries (RIL), the HDFC twins (HDFC Bank and HDFC), and Infosys. The majority of Adani Group equities had an increase today, which contributed to the indexes reaching new highs.
Adani Transmission, Adani Enterprises, Adani Ports, Torrent Pharmaceuticals, Gland Pharmaceuticals, and Suzlon Energy all increased by as much as 7.53 percent on the BSE. Reliance, HDFC Bank, and Infosys all increased by 1%, while HDFC finished 0.62 % higher.
Ahead of their merger, which became official on July 1, the HDFC pair increased gains. Additionally, once news broke that US-based investment company GQG Partners had completed a third round of investment in the ports-to-energy conglomerate, shares of Adani Group rose.
According to preliminary NSE statistics, foreign institutional investors (FIIs) purchased Indian stocks for a net Rs 12,350 crore during the previous session, while domestic investors sold shares worth Rs 1,021.01 crore.
