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

Market Shut Today

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed on January 26 on account of Republic Day.

Trading in equities, equity derivatives, securities lending and borrowing (SLBs), currency derivatives, and interest rate derivatives will remain shut for the day on both the BSE and the NSE.

The commodity derivatives segment will also remain closed for the day.

Trading on the NSE and the BSE will resume on January 27 (Tuesday).

The market ended lower in a volatile session on January 23, as selling pressure was seen across sectors.

At close, the Sensex was down 769.67 points or 0.94 percent at 81,537.70, and the Nifty was down 241.25 points or 0.95 percent at 25,048.65.

The broader market underperformed the benchmarks, with the BSE midcap index falling 1.5 percent and the smallcap index down over 2 percent.

Biggest Nifty losers were Adani Enterprises, Adani Ports, Eternal, Interglobe Aviation, Cipla, while gainers included Dr Reddy's Labs, Tech Mahindra, ONGC, Hindalco, HUL.

All the sectoral indices ended in the red with capital goods, power, realty, PSU Bank, and media down 2-3%.

"After showing a bounce back in the last couple of sessions, Nifty slipped into sharp weakness on Friday and closed the day lower by 241 points. After opening on a positive note, the market was not able to sustain the opening gains and started with weakness in the early part of the session. The weakness intensified in the mid to later part, and Nifty finally closed at the lows," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

"A long bear candle was formed on the daily chart, which indicates a formation of a lower top reversal pattern at the recent swing highs of 25400 levels. Nifty on the weekly chart formed a long bear candle this week after the minor bounce of last week. The overall chart pattern remains negative, and one may expect Nifty to slide below the recent low of 24900 by next week. The near-term downside target to be watched is around 24,600. Immediate resistance is placed at 25200 levels," he added.

On Friday, the Indian rupee ended at a record low at 91.96 per dollar versus Thursday's close of 91.62.

"The Indian rupee succumbed to a record low, bucking under the weight of voracious dollar demand from importers and corporates ahead of the long weekend and the upcoming Union Budget," said Dilip Parmar, Research Analyst, HDFC Securities.

"This fragility intensified as domestic equities faced a fresh bout of liquidation, erasing Thursday’s tentative recovery."

"The outlook for spot USDINR remains resolutely bullish; we anticipate the pair may eclipse the psychological 92 threshold while finding the support at 91.10," he said.

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