Is the stock market closed for Mahavir Jayanti tomorrow?

The stock markets will remain closed tomorrow on account of Mahavir Jayanti, according to the BSE holiday calendar. All the segments, including equity, derivatives, and SLB segment, will be shut for trading.

Further, the multi-commodity exchange will also be closed for the morning session, but trading will resume at 5 pm for the evening session.

There are two market holidays this week, with the next one falling on April 7 (Good Friday). All segments on the exchanges and MCX will be shut for the whole day and not just the morning session for Good Friday.

For April, the market will remain shut for three days. Apart from the above two days mentioned, markets will also not function for Ambedkar Jayanti next week.

In the entire calendar year, the markets have 15 annual holidays in 2023, two more than last year.

On Monday, benchmark indices Sensex and Nifty settled with gains for the third straight session; however, the market traded broadly in a narrow range. Investors had to encounter a negative surprise of an uptick in crude oil prices on the first day of the new financial year.

"Investors were of the view that the easing price pressure would provide the central bank with leeway to pause the rate hike. However, the surprise production cut by OPEC+ has fuelled concerns about inflationary pressure, which may prompt central banks to remain hawkish," Vinod Nair, Head of Research at Geojit Financial Services, said.

Technically, the trend for the short term, however, remains positive as Nifty closed well above the support level of 17,200.

"The bulls are going to have the upper hand as long as Nifty remains above 17,200. On the higher end, 17,500 is likely to act as crucial resistance for the index. A decisive move above 17,500 may induce a strong directional upmove," said Rupak De, Senior Technical Analyst at LKP Securities.