Stock market holiday: BSE, NSE to remain closed today on Republic Day
Premium- On Tuesday, benchmark indices snapped 5 days losing streak with Sensex gaining 366 points & Nifty closing 128.8 points higher
Indian stock markets BSE and NSE will remain closed on Wednesday on the occasion of Republic Day, marking its first holiday in the new year 2022. There will be no trade in the Equity Segment, Equity Derivative Segment and SLB Segment.
On Tuesday, benchmark indices snapped the 5 days of losing streak as they closed in the positive by gaining 366 points at 57,858. The Nifty 50 of the National Stock Exchange closed 128.85 points or 0.75% higher at 17,277.9. In the broader markets, the BSE midcap and small cap indices advanced over 1%.
Auto stock Maruti Suzuki was the top index gainer after posting a consolidated net profit at ₹1,041.8 crore for the December quarter, above expectations. Axis Bank, SBI, IndusInd Bank, Bharti Airtel, PowerGrid and NTPC were also among top supporters. Wipro, Infosys, Tech Mahindra and Bajaj Finserv, Titan, UltraTech Cement were the top laggards.
"Market corrected quite sharply in last 4 – 5 sessions on the back of some global uncertainty. Now if there is no further aberration on the global front, 17000 – 16800 is likely to act as a key support for Nifty ahead of the budget. Since the volatility is likely to be on the higher side, traders are advised to stay light but can certainly look for stock specific buying opportunities," said Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel One.
Meanwhile, the domestic currency rupee on Tuesday depreciated by 18 paise to close at a nearly one-month low of 74.78 against the US dollar due to month-end dollar demand from oil importers, forex outflows and a stronger dollar in overseas markets.
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The stock markets will have a total of 13 holidays in 2022, as per the information available on the BSE website. The next stock market holidays will fall on Mahashivratri on 1st March and Holi on 18th March.
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