Is the stock market closed tomorrow for Independence Day?

Equity markets will remain closed on August 15 on account of Independence Day. Accordingly, all the segments including, equity, derivative, and SLB will be shut.

Similarly, the multi-commodity exchange will also be closed for both halves on Tuesday.

This calendar year, equity markets have 15 annual holidays, two more than 2022.

Benchmark indices declined in early trade on Monday, before rebounding towards the fag end despite weak global market trends. The Sensex was last up 137 points at 65,460, while Nifty was trading 21 points higher from the previous session.

Analysts are of the opinion that the current market mood appears to be leaning towards a sell-on-rise pattern, mainly on account of nervousness in the global markets.

The Bank Nifty has been a pressure point for the markets during the last several trading days. The RBI decision to raise the CRR of banks to neutralise the excess liquidity has added to the negative sentiments in the banking sector.

"Investors should exercise caution for the near term and wait for the market to consolidate," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

"The result season is now coming to an end. Overall the earnings have been in the expected line. In the absence of any major trigger and uncertain global cues, we expect the market to consolidate in the range," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

The focal point of market attention is expected to shift toward the impending domestic inflation figures scheduled for release later this evening.

Technical analysts say the prospects of a revival in uptrend, rests on the ability of 19400 to attract bargain buying, having retraced 61.8% of the rise that unfolded since August 3.

"We will, however, wait for confirmation from a successful push above 19,460 to play upswings for the day. Downside market may be placed at 19360," said Anand James, Chief Market Strategist at Geojit Financial Services.