Stock Market Holiday: On account of Muharram, all trading throughout the country will be suspended today, including at stock exchanges. According to the Bombay Stock Exchange’s website, all trading activities on Tuesday, August 9, including those in the equities, currency, and futures markets, will be suspended throughout the full day. Similar to this, NSE trading will also be shut down today during the entire session in observance of Muharram.
The trading will take place in the evening session on Tuesday from 5 pm to 11:30 pm. However, commodity markets will observe holidays only during the morning session, or from 9 am to 5 pm. Similar to this, NCDEX’s (National Commodity & Derivatives Exchange Limited) operations will resume from 5 to 9 p.m.
Stock Market Holidays in August
In addition to the Muharram holiday, trading will be halted on Monday, August 15, when India celebrates its 76th Independence Day, and on Wednesday, August 31, when Ganesh Chaturthi is observed.
Stock Market Holidays in 2022
There won’t be a market holiday in September after August 31, 2022, because it will fall in October. Four additional days in October and November will see stock exchanges closed. The dates are Wednesday, October 5, Monday, October 24, and Wednesday, October 26, respectively, in observance of Dussehra, Laxmi Pujan, and Diwali Balipratipada. One trading holiday will be observed in November on Tuesday, November 8, in observance of Gurunanak Jayanti. There was a total of 13 officially recognized holidays in 2022.
On August 8, the main Indian equity indices closed close to a four-month high thanks to purchases by foreign investors, declining crude oil prices, and increases in the equities of metal and auto companies. At closure, the Nifty was up 127.60 points, or 0.73 percent, at 17,525.10, while the Sensex was up 465.14 points, or 0.80%, at 58,853.07.
The Indian market started the day slowly but extended gains as the day went on, ending the session close to the day’s high amid conflicting global indications.
The two main forces behind the current market surge are continuous FII purchases and declining oil prices. Heavyweights were a major factor in today’s gain, although PSU banks were still under pressure as a result of the PSB major’s disappointing performance, according to Vinod Nair, head of research at Geojit Financial Services.
Western markets kept rising after positive US employment figures allayed concerns about a recession. The upcoming week is jam-packed with economic data as domestic investors prepare for the publication of inflation statistics and manufacturing production figures to assess the health of the economy, he continued.
In terms of industries, the Nifty auto, energy, and metal indexes all increased by 1%, while the Nifty bank index increased by 0.8%.