Indian equity benchmarks would be closed on Monday, as per the BSE website. The domestic benchmarks would be shut today to mark “General Elections (Lok Sabha)”. The equity segment, equity derivative segment and the SLB (Security Lending and Borrowing) segment would remain closed. Currency derivatives, commodity derivatives and electronic gold receipts segments would also be closed. In May 2024, there are 11 stock market holidays in total, including Saturdays and Sundays.
During the previous session, headline index NSE Nifty on Saturday closed 36 points or 0.16 per cent higher at 22,502-level. The 30-share BSE pack settled 89 points or 0.12 per cent up at 74,006. Bourses were open on May 18 due to a special trading session.
Mid- and small-cap shares also finished in the green, with the Nifty Midcap 100 up 0.51 per cent and Nifty Smallcap 100 rising 0.82 per cent. India VIX, fear index, jumped 3.67 per cent to 20.53-level.
All 16 sectoral indices on NSE settled in the green. Sub-indices Nifty Media, Nifty Consumer Durables, Nifty Oil & Gas and Nifty Realty outperformed the index by rising 1.24 per cent, 0.48 per cent, 0.47 per cent and 0.78 per cent, respectively.
On BSE, frontline stocks such as Nestle India, L&T, TCS, Power Grid, Tata Motors, SBI, Airtel, HUL and HCL Tech gained up to 2.33 per cent.
Out of a total of 3,613 stocks that traded on BSE during last trade, 2,415 settled with gains while 1,073 others ended lower. The remaining 125 stocks stayed unchanged.
The domestic bourses would reopen on May 21, 2024 (Tuesday).
Nifty outlook
“Nifty remains within the channel, closing above 22,500 for the first time in several days. However, a small bodied candle on daily charts suggests very little about the future direction of the price. Additionally, heavy writing is visible in both ‘CALL’ and ‘PUT’ at 22,500, indicating a sense of inflection. Therefore, traders need to be watchful in the initial hour to confirm any directional move. Support is visible at 22,400. On the higher end, a sustained move can take the index towards 22,600 and higher in the short term,” said Rupak De, Senior Technical Analyst at LKP Securities.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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