Stock market today: The stock markets in India, including the equity, derivative, and SLB segments of the Bombay Stock Exchange (BSE), will remain closed on June 17, 2024, due to the observance of Eid-al-Adha (Bakri Eid). This closure is in accordance with the market holiday calendar provided by the BSE. Similarly, the Multi-Commodity Exchange (MCX) will be closed for the morning session but will resume operations for the evening session.
In addition to Bakri Eid, the markets will also be closed on several other occasions throughout the year 2024, including Muharram (July 17), Independence Day (August 15), Mahatma Gandhi (October 2), Diwali (November 1), Gurunanak Jayanti (November 15), and Christmas (December 25).It is important to note that the exchanges reserve the right to modify any of these holidays, and in such cases, a separate circular will be issued in advance to inform market participants.
On Friday, the Indian benchmark equity indices, the 30-share BSE Sensex and the broader NSE Nifty, achieved record closing highs for the second consecutive session. The Sensex rose by 181 points or 0.24% to close at 76,993, while the Nifty gained 67 points or 0.29% to end the session at 23,465. According to an ET report, the rally was primarily driven by state-run companies and energy stocks, as investors remained optimistic about the new government’s continued focus on capital expenditure spending.
The Nifty’s market breadth favored the bulls, with 28 stocks trading in the green and 22 in the red. The top gainers for the day were Eicher Motors, Adani Ports, M&M, Shriram Finance, and Titan, while Tech Mahindra, TCS, Wipro, HCL Tech, and L&T were among the top losers.
Simultaneously, the small and mid-cap indexes, which are more focused on the domestic market, continued to outperform the benchmarks. These indexes jumped 1% and 0.75%, respectively, on Friday, marking record highs for the fourth straight session. Since the election results on June 4, the small and mid-cap indexes have added 15% and 12.36%, respectively, compared to the Nifty’s 7.22% increase over the same period.
State-run firms and lenders also performed well during the week, with gains of 4.94% and 2.5%, respectively. This strong performance can be attributed to investors’ expectations of policy continuity, as key ministers were retained in the new government’s cabinet.
In addition to Bakri Eid, the markets will also be closed on several other occasions throughout the year 2024, including Muharram (July 17), Independence Day (August 15), Mahatma Gandhi (October 2), Diwali (November 1), Gurunanak Jayanti (November 15), and Christmas (December 25).It is important to note that the exchanges reserve the right to modify any of these holidays, and in such cases, a separate circular will be issued in advance to inform market participants.
On Friday, the Indian benchmark equity indices, the 30-share BSE Sensex and the broader NSE Nifty, achieved record closing highs for the second consecutive session. The Sensex rose by 181 points or 0.24% to close at 76,993, while the Nifty gained 67 points or 0.29% to end the session at 23,465. According to an ET report, the rally was primarily driven by state-run companies and energy stocks, as investors remained optimistic about the new government’s continued focus on capital expenditure spending.
The Nifty’s market breadth favored the bulls, with 28 stocks trading in the green and 22 in the red. The top gainers for the day were Eicher Motors, Adani Ports, M&M, Shriram Finance, and Titan, while Tech Mahindra, TCS, Wipro, HCL Tech, and L&T were among the top losers.
Simultaneously, the small and mid-cap indexes, which are more focused on the domestic market, continued to outperform the benchmarks. These indexes jumped 1% and 0.75%, respectively, on Friday, marking record highs for the fourth straight session. Since the election results on June 4, the small and mid-cap indexes have added 15% and 12.36%, respectively, compared to the Nifty’s 7.22% increase over the same period.
State-run firms and lenders also performed well during the week, with gains of 4.94% and 2.5%, respectively. This strong performance can be attributed to investors’ expectations of policy continuity, as key ministers were retained in the new government’s cabinet.
