Today, the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will be closed in honor of the colorful and joyous festival of Holi. This closure aligns with the tradition of observing this important festivity, allowing market participants time to celebrate with their families and loved ones.
For the entire trading day, there will be no activity on the BSE and NSE, as the spirit of Holi encompasses the financial world as well. Both equity and derivative segments will remain shuttered, as traders take the day off to partake in the festivities.
As part of the holiday schedule for the month of March 2024, this closure is in line with previous years’ practices. The Multi Commodity Exchange and National Commodity Exchange will also experience the interruption in the morning but will resume trading in the evening, catering to the needs of commodities traders.
Last week in Mumbai, the stock market saw a rebound in stock prices following the dovish remarks made by the FOMC. Notable gains were seen in sectors such as real estate, auto, and metals, while the information technology sector faced a decline.
The benchmark indices, BSE Sensex and NSE Nifty 50, showed resilience, with the latter ending higher on Friday. The rupee faced pressures, hitting an all-time low against the US dollar, reflecting the global economic landscape’s effect on the Indian currency amidst strong local dollar demand.
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