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

The commodity derivatives segment will also remain closed in the morning session between 9:00 am to 5:00 pm, while it will remain open for the evening session between 5:00 pm to 11:55 pm.

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed on August 27 on account of Ganesh Chaturthi.

Trading in derivatives, equities, SLBs, currency derivatives, and interest rate derivatives will remain shut for the day.

The commodity derivatives segment will also remain closed in the morning session between 9:00 am to 5:00 pm, while it will remain open for the evening session between 5:00 pm to 11:55 pm.

Trading on the NSE and the BSE will resume on August 28 (Thursday).

On August 26, Indian equity indices ended on a weak note with Nifty around 24,700.

At close, the Sensex was down 849.37 points or 1.04 percent at 80,786.54, and the Nifty was down 255.70 points or 1.02 percent at 24,712.05.

Biggest Nifty losers were Shriram Finance, Sun Pharma, Tata Steel, Bajaj Finance, Trent, while gainers included Eicher Motors, HUL, Maruti Suzuki, Nestle India, ITC.

Except FMCG, all other sectoral indices ended in the red with PSU Bank, metal, pharma, oil & gas, consumer durables, realty, telecom down 1-2%

The BSE midcap index shed 1.3 percent and smallcap index fell 1.7 percent.

"The benchmark indices corrected sharply. The Nifty ends 256 points lower, while the Sensex was down by 849 points. Among sectors, Capital Market, Defense, and Real Estate shed over 2 percent, whereas despite weak market sentiment, the FMCG index outperformed and rallied nearly 1 percent," said Shrikant Chouhan, Head Equity Research, Kotak Securities.

"Technically, after a gap-down open, the market breached the crucial support zone of 24,850/81300, and post-breakdown, selling pressure intensified. Additionally, it also formed a long bearish candle on the daily charts and is holding a lower top formation on intraday charts, which is largely negative."

"We believe that the intraday market texture is weak, but a fresh selloff is possible only after the dismissal of the 24650/80500. Below this level, the index could retest the level of 24,550-24500/80200-80000. On the flip side, above 20 day SMA or 24750/81000, a pullback move is likely to continue up to 24850-24900/81300-81500," Chouhan added.

Indian rupee ended 10 paise lower at 87.68 per dollar on Tuesday versus Monday’s close of 87.58.

"The bias for the rupee still weak amid imbalance between dollar demand and supply. The local rupee got support from MSCI rebalance inflows in today’s session. Looking at the current market conditions, the rupee’s new low is looking imminent, while a move to 86.50 appears distant," said Dilip Parmar, Research Analyst, HDFC Securities.

"The short term traders will be eyeing on the trade tariff and GST rate rejig announcement. The spot USDINR has near term support at 87.25 and resistance at 87.90, he added.

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