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

Market Shut Today

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed on May 1 on account of Maharashtra Day.

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 May 2 (Friday).

On April 30, Indian equity indices ended marginally lower in the volatile session. At close, the Sensex was down 46.14 points or 0.06 percent at 80,242.24, and the Nifty was down 1.75 points or 0.01 percent at 24,334.20.

The Nifty50 and BSE Sensex rose 3.5 percent each in the month of April.

Maruti Suzuki, HDFC Life, Bharti Airtel, SBI Life Insurance, Power Grid Corp were among major gainers on the Nifty, while losers were Bajaj Finserv, Bajaj Finance, Trent, Tata Motors, SBI.

Among sectors, Realty index added nearly 2 percent and Pharma index rose 0.4 percent, while media, PSU Bank indices down 2 percent each and Energy, IT, Consumer Durables down 0.3-0.9 percent.

The broader indices underperformed the main indices with Nifty Midcap index falling 0.8 percent, and Nifty Smallcap index declining 1.7 percent.

"The Nifty continues to consolidate within a narrow range as traders preferred to remain on the sidelines ahead of the holiday. However, with the index sustaining above the critical 20 EMA on the daily timeframe, the bullish trend remains intact. Momentum also remains strong, with the RSI holding above 50 and showing a bullish crossover. On the higher end, resistance is placed at 24,550 — a sustained move above this level could trigger a decent rally in the market. On the lower end, support is seen at 24,200," said Rupak De, Senior Technical Analyst at LKP Securities.

Indian rupee ended 76 paise higher at 84.49 per dollar on Wednesday against Tuesday’s close of 85.25.

"Rupee traded strongly positive with a sharp gain of 0.70 at 84.49, supported by robust FII and DII fund inflows and optimism around US-India trade deal developments. Despite the dollar index remaining firm, the rupee strengthened on expectations that India could emerge as a key alternative to China in US trade flows, boosting confidence in Indian markets," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

"This strategic positioning is likely to enhance capital inflows and support the rupee further in the near term. Rupee range now shifts significantly lower to 84.00–84.90, reflecting the strength and positive outlook for the currency," he added

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