Stock market holiday: BSE, NSE to remain closed today on account of Christmas –

Stock market holiday: BSE, NSE to remain closed today on account of Christmas

Indian equity benchmarks would remain closed on Monday, as per the BSE website. The domestic benchmarks would be shut today to mark Christmas. The equity segment, equity derivative segment and the SLB (Security Lending and Borrowing) segment would remain closed. Commodity markets would also be closed for both morning and evening sessions.

In December 2023, there are 11 stock market holidays in total, including Saturdays and Sundays.

Indian equity benchmarks settled higher in the previous session, led by gains in technology, metal and automobile stocks. The 30-share BSE Sensex pack rose 242 points or 0.34 per cent to settle at 71,107, while the broader NSE Nifty index moved 94 points or 0.44 per cent up to close at 21,349.

Mid and smallcap shares also finished in the green, with the Nifty Midcap 100 up 0.73 per cent and Nifty Smallcap 100 surging 1.08 per cent. India VIX, fear index, slipped 0.36 per cent to 13.71-level.

10 out of the 15 sectoral indices on NSE settled in the green. Sub-indices Nifty IT, Nifty Metal and Nifty Auto outperformed the index by rising 2.27 per cent, 1.71 per cent and 1.37 per cent, respectively. In contrast, Nifty Bank and Nifty Financial Services saw corrections.

On BSE, Infosys, L&T, HCL Technologies, Wipro, TCS, ITC and Tata Motors rose up to 1.68 per cent. Also, Astrazeneca Pharma India, Piramal Pharma, JB Chemicals, Caplin Point Labs, GAIL (India) and Castrol India zoomed up to 12.98 per cent.

On the flip side, Polycab India, Varun Beverages, IIFL Finance, Gujarat Ambuja Exports, Medplus Health Services and Aurobindo Pharma tanked up to 4.63 per cent.

Out of a total of 3,883 stocks that traded on BSE last Friday, 2,368 settled with gains while 1,396 others ended lower. The rest 119 stocks stayed unchanged.

The domestic bourses would reopen on December 26.

Technical view: Nifty outlook

“Lower-end support for Nifty is positioned at 21,200, presenting a buying opportunity on any dips. Sustaining above 21,300 could pave the way for further upside momentum, targeting the 21,500 level,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

Nifty Bank outlook

“Nifty Bank managed to hold the key support level of 47,400. If the index fails to sustain above this support, it could witness further decline toward the 47,100 levels. On the upside, the immediate resistance is at 47,700, and a breakout above this level may trigger short-covering, pushing the index higher toward 48,000/48,200 levels,” Shah stated.

Also Watch: Hot stocks for next week: Vedanta, AstraZeneca Pharma, HMA Agro, Embassy Office Parks and more

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