Stock market holiday: Is Indian stock market shut tomorrow?

Stock market holiday: The Indian stock market will remain closed for trading tomorrow, Wednesday, July 17 on account of the Muharram festival. Hence, there will be no trading in the Indian equity market as both the leading stock exchanges, Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will be closed tomorrow.

As per the BSE, the equity segment, equity derivative segment, SLB segment and the currency derivatives segment as well as the interest rate derivatives segments are closed for trading hours on Wednesday. Even though the stock exchanges are closed for trading, however, the ongoing April-June quarter results for fiscal 2024-25 (Q1FY25) will continue as per the schedule.

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Indian stock market news

The Indian stock market benchmarks, Sensex and Nifty 50, rose for the third consecutive session, reaching new record highs on Tuesday, July 16. Despite weak global cues and caution ahead of the Union Budget limiting gains, buying in select heavyweight stocks helped the market move upwards.

Sensex hit its fresh record high of 80,898.3, and the Nifty 50 scaled a fresh peak of 24,661.25 during the session. The 30-share pack closed 52 points, or 0.06 per cent, higher at 80,716.55, while the Nifty 50 ended at 24,613, up 26 points, or 0.11 per cent. This was also the fresh closing high for both indices.

The domestic market has been on a record-breaking spree in July, driven by optimism about a growth-oriented Union Budget, expectations of healthy Q1 earnings of Indian corporates, and the steady progress of the monsoon.

However, gains have been limited due to concerns over high market valuations. Despite the Nifty 50 being in the green for eight out of the 12 sessions in July so far, the NSE benchmark has only risen by 2.5 per cent this month. Investors have been selectively buying shares of certain heavyweights while booking profits in others.

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‘’Nifty continued making fresh highs and traded in positive territory throughout the day. The index closed with gains of 26 points at 24613 levels. Sector-wise it was a mixed bag with buying seen in reality, FMCG, and auto,'' said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

‘’With the nearing of a major event – Union Budget, we expect anxiety to increase in the market. Along with this Q1FY25 earnings results of prominent companies will drive the stock-specific action. On Wednesday, Indian Markets will remain closed on account of Muharram,'' said Khemka.