Stock Market Holiday Today: BSE, NSE to Remain Shut for Mahashivratri
Stock Market Holiday Today : The Indian stock market will remain closed on Monday, February 26, 2024, on account of Mahashivratri. Both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will be shut for trading throughout the day. As a result, all transactions in equities, derivatives, securities lending and borrowing (SLBs), currency derivatives, and interest rate derivatives will be suspended for the day.
Commodity Market Schedule
While the stock market remains fully closed, the commodity segment will have a partial holiday. The commodity derivatives market will not operate during the morning session (9:00 AM – 5:00 PM). However, trading will be open in the evening session from 5:00 PM to 11:55 PM.
Normal trading operations across BSE and NSE will resume on Tuesday, February 27, 2024.
Stock Market Performance Before the Holiday
The Indian equity markets witnessed a volatile trading session on February 25, 2024, ahead of the holiday. The benchmark indices showed mixed movements as traders adjusted their positions before the extended break.
- Nifty 50 closed at 22,547.55, down 6 points.
- Sensex managed to gain 147.71 points (0.20%), ending the day at 74,602.12.
- The BSE Midcap and Smallcap indices both declined by 0.5% each, indicating weakness in broader markets.
- This marks the sixth consecutive session where Nifty 50 has closed in the red, signaling bearish sentiment in the market.
Sectoral and Stock-Specific Movements
The market showed a mixed trend across various sectors:
Top Gainers on Nifty 50
- Mahindra & Mahindra (M&M)
- Bharti Airtel
- Bajaj Finance
- Maruti Suzuki
- Nestle India
Top Losers on Nifty 50
- Hindalco Industries
- Dr. Reddy’s Laboratories
- Sun Pharma
- Hero MotoCorp
- Trent
Sector Performance
- IT, metal, oil & gas, energy, capital goods, PSU bank, and realty sectors lost between 0.5% and 1%.
- Auto, FMCG, telecom, and consumer durables sectors saw a slight 0.5% gain each.
According to Rupak De, Senior Technical Analyst at LKP Securities,
“The index remained mostly muted, except for a small correction towards the close. Sentiment continues to favor the bears as the index sustained below the 21-EMA on the hourly chart, indicating selling on every rise. If Nifty drops below 22,500, the market sentiment may worsen further. Resistance is expected at 22,650 and 22,750-22,800, where selling pressure is likely.”
Indian Rupee Performance
The Indian rupee had a significant drop on February 25, closing at 87.20 per US dollar, which is 50 paise lower than the previous session’s closing of 86.70.
According to Rahul Kalantri, VP – Commodities at Mehta Equities,
“The Indian rupee saw its biggest intraday drop in the last three weeks due to fresh FPI sell-offs in domestic equities and geopolitical concerns after a statement by US President Trump on tariffs related to Mexico and Canada. We expect rupee volatility to continue, with a trading range of 86.65-87.70 this week.”
Key Financial Ratios
Here are some key financial ratios of major companies from the Indian stock market:
| Company | P/E Ratio | P/B Ratio | Dividend Yield (%) | Market Cap (₹ Cr) |
|---|---|---|---|---|
| Reliance Industries | 25.3 | 2.8 | 0.34 | 18,50,000 |
| TCS | 27.1 | 14.5 | 1.48 | 13,20,000 |
| Infosys | 23.7 | 8.2 | 2.09 | 6,70,000 |
| HDFC Bank | 19.4 | 2.6 | 1.15 | 12,80,000 |
| ITC | 28.5 | 6.1 | 3.50 | 5,40,000 |
| Tata Motors | 16.9 | 5.4 | 0.35 | 3,40,000 |
| Maruti Suzuki | 29.6 | 4.3 | 0.80 | 3,00,000 |
These ratios help investors assess a company’s valuation, profitability, and market strength.
What to Expect After the Holiday?
As the stock markets reopen on February 27, 2024, investors should watch out for:
✔️ Global cues from US and Asian markets.
✔️ FII and DII activity, as recent trends indicate a strong FII outflow.
✔️ Sector-specific movements, especially in auto, banking, and IT stocks.
✔️ Rupee volatility against the US dollar.
With markets currently trading near key support and resistance levels, the coming sessions will be crucial for traders.
Conclusion
As BSE and NSE remain closed today (February 26, 2024) for Mahashivratri, market participants will return on February 27 to resume trading. While the previous session showed mixed trends, volatility may continue in the upcoming days. Investors should keep an eye on global trends, currency fluctuations, and sectoral movements to make informed decisions.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.