Stock market holiday today: BSE, NSE to remain shut for Christmas

The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will remain shut on December 25 on account of Christmas. There will be no trading in equities, equity derivatives, interest rate derivatives and currency derivatives, while securities lending and borrowing will also not take place on Monday.

Wholesale commodity markets, including metal and bullion, will also remain closed.

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On December 22, the market ended higher for the second consecutive session on December 22 with the Nifty above 21,300 amid buying across the sectors, barring banks.

At close, the Sensex was up 241.86 points or 0.34 percent to 71,106.96, and the Nifty was up 94.40 points or 0.44 percent to 21,349.40. However, for the week, the BSE Sensex and the Nifty50 were down 0.5 percent each.

After a muted start, the benchmark went higher with the Nifty inching closer to 21,400 points. However, selling in the second half erased all the gains to turn negative but final-hour buying helped indices close near the day’s high.

The top Nifty gainers included Wipro, HCL Technologies, Tata Motors, Hero MotoCorp and Hindalco Industries, while losers were Grasim Industries, SBI Life Insurance, Bajaj Finance, HDFC Bank and ICICI Bank.

Except for the bank, all sectoral indices ended in the green with auto, capital goods, healthcare, oil and gas up 1 percent each, while Information Technology, metal and realty were up 2 percent each.

The BSE Midcap index gained 0.7 percent and the Smallcap index 1 percent.

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“The ‘buy on dips’ strategy continues to drive investors during the subdued week. Mid and small caps remain in the limelight, benefiting from the ease in oil prices and the anticipation of a potential rate cut in CY24, supported by slower-than-expected US GDP growth and weakness in the dollar, signalling early rate cuts,” said Vinod Nair, Head of Research at Geojit Financial Services.

“Realty and Auto sectors shine, while PSU banks outperform peers on account of improvements in balance sheets and profitability. Despite a premium valuation, the short-term positive trend persists, supported by a strong revival in FIIs buying and stock-specific actions. Heading into the festive season and the year-end, we can anticipate a range-bound trade scenario with limited data points.”

On Friday, the rupee ended 12 paise higher at 83.15 per dollar versus Thursday’s close of 83.27. “The rupee appreciated on Friday on positive domestic markets and a weak dollar. However, surge in crude oil prices and FII outflows capped sharp gains,” said Anuj Choudhary, research analyst at Sharekhan by BNP Paribas.

“We expect the rupee to trade with a slight positive bias on rise in risk appetite in global markets and softness in the dollar. However, dollar demand from imports and selling pressure from foreign investors may cap the upside. Geopolitical tensions in the Red Sea may also weigh on the rupee at higher levels. Traders may take cues from inflation, pending home sales and durable goods orders from the US. The USDINR spot price is expected to trade in a range of Rs 82.80 to Rs 83.50,” he added.