Holiday in the Stock Market: Due to Diwali Balipratipada, the Indian stock market will be closed today, November 14, 2023. The SLB segment, equity derivatives segment, and equity segment will not be open for trading. Additionally closed to trading today is the currency derivatives market.
The Multi Commodity Exchange (MCX) will not open for trading in the commodities segment during the first part of Tuesday’s trading session. Trading will reopen at approximately 5 p.m. (evening session). Throughout the day, trading in the interest rate and currency derivatives segments will be suspended.
Balipratipada, also known as Bali Padyami, is observed on the fourth day of Diwali. It is the first day of the bright lunar fortnight in Kartika, the Hindu month. The day celebrates Lord Vishnu’s victory over the demon-king Bali in the Vamana Avatar, as well as the return of the demon-return king to the world.
Today’s holiday is the first in November for stock markets. On November 27, there will be another stock market holiday to commemorate Gurunanak Jayanti. The stock markets will be closed on December 25 for the holiday season.
On November 13, the Nifty 50 and the Sensex will be closed.
On Monday, November 13, domestic equity benchmarks Nifty 50 and Sensex closed lower on mixed global cues as investors’ appetite for risk was dampened by elevated US Treasury yields and the strength of the dollar. Throughout the entire session, the frontline indices were negative. They began the day lower.
Monday’s Nifty 50 ended the day at 19,443.55, down 82 points, or 0.42 percent, while the Sensex finished the day at 64,933.87, down 326 points, or 0.50 percent. Benchmarks were surpassed by mid-and small-cap stocks. The BSE Midcap index saw a 0.10 percent increase at the end, whereas the smallcap index nominally lost 0.01 percent.
Furthermore, both of the Indian benchmark indices saw gains in trade on Sunday, November 12, during a special one-hour Muhurat trading session that signaled the start of Samvat 2080. The Sensex concluded at 65,259.45, up 355 points, or 0.55 percent, while the Nifty 50 closed 100 points, or 0.52 percent, higher at 19,525.55. In the Nifty 50 index, 43 stocks concluded the day higher.
Experts are optimistic about the domestic market’s growth trajectory for Samvat 2080 due to India’s robust economy and strong macroeconomic outlook despite external challenges.
“As we bid farewell to Samvat 2079, the horizon of Samvat 2080 appears promising.” Our ‘Diwali Picks 2023’ feature 12 stocks with balanced investment potential, including HDFC Bank, L&T, Tata Motors, Indigo, Tata Power, ABFRL, Crompton Greaves Consumer Electricals, Usha Martin, Doodla Dairy, Ashoka Buildcon, LG Bal Bros, and Imagica,” said Prashanth Tapse, Senior VP Research Analyst at Mehta Equities Ltd.
Market optimism is fueled by factors such as the Federal Reserve’s efforts to achieve a “soft landing,” robust GST numbers, active retail participation, easing Middle East hostilities, and declining WTI oil prices,” Tapse added.
