Is The Stock Market Shut Down On August 15 For Independence Day?
Is The Stock Market Shut Down On August 15: On August 15, equity markets in India will be closed in observance of the country’s Independence Day. This indicates that all segments, including SLB, equity, and derivatives, will press the pause button. Following suit, the multi-commodity exchange will be idle on Tuesday.
The equity market will celebrate 15 holidays this year, up from 14 in 2022, for those keeping track.
Markets on August 14: Despite the uncertainty surrounding the global markets, benchmark indexes first fell during Monday’s trading session before later rising. The Nifty crept up by 21 points from its previous level, while the Sensex finished with a gain of 137 points, closing at 65,460.
Market analysts allude to a general sense of caution. The trend, which is mostly impacted by market jitters worldwide, appears to favor selling as prices increase. Recent sessions have been hot for the banking sector, which is represented by the Bank Nifty.
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The RBI’s decision to increase banks’ CRR in an effort to balance out excess liquidity hasn’t helped the banking sector’s attitude.
The approaching domestic inflation report is the focus of everyone’s attention as traders and investors rebalance.
Technically, the market’s ability to recover depends on the 19,400 level bringing in bargain hunters. The daily chart shows a pattern of diminishing peaks and troughs, as Nagaraj Shetti of HDFC Securities notes.
19,257 is the lowest point in this sequence as of Monday. The 19,600 level may serve as a point of resistance for any upward movement, with 19,250 serving as the area of immediate support.