Stock market holiday: BSE and NSE will be closed today due to Lok Sabha elections

Stock market holiday: BSE and NSE will be closed today due to Lok Sabha elections

Attention India
3 Min Read

On Tuesday, May 21, trading on the NSE and BSE will restart.

Share Market Closed Today

Due to the fifth round of voting in the General Elections (Lok Sabha), both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will be closed today, May 20. The trading of interest rate derivatives, stocks, SLBs, currency derivatives, and derivatives involving derivatives will all be closed for the day.

The morning session, which runs from 9 a.m. to 5 p.m., will see the commodity derivatives sector remain closed, and the evening session will continue to operate from 5 p.m. to 11:55 p.m. Trading will start up again on Tuesday, May 21, on the BSE and NSE.

The domestic markets continued to rise during the special trading session on May 18, with the Sensex and Nifty ending the day with gains of 0.1 percent. This was the third straight day that the markets saw gains. Conversely, broader markets beat benchmark indices.

The Nifty was up 35.90 points, or 0.16 percent, at 22,502 at closure, while the Sensex was up 88.91 points, or 0.12 percent, at 74,005.

“The Nifty closes over 22,500 for the first time in a few days, staying inside the channel. On the daily chart, however, a small-bodied candle makes virtually little indication of where the price is likely to go in the future. Furthermore, around the 22,500 strike, there is noticeable writing in both the Call and Put that suggests an inflection. Thus, in order to confirm any directional move, traders should exercise caution during the first hour of trading, according to Rupak De, Senior Technical Analyst at LKP Securities.

“At 22,400, support is discernible. In the short run, a strong advance might push the index up to 22,600 and beyond,” he continued.

The Indian rupee closed Friday at 83.33 against the dollar, up 17 paise from Thursday’s finish of 83.50.

According to Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, “the rupee traded positively, driven by the Indian capital market’s positive reaction to favorable voting counts and expectations of the current government continuing its run.”

The rupee’s stability has been bolstered by inflows from Domestic Institutional Investors (DII), and the RBI’s stringent zero-speculation regulations have further restrained any possible fall. The rupee is anticipated to move in a favorable range between 83.10 and 83.55 in the upcoming sessions,” he continued.

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