Stock Market Holiday: BSE, NSE To Remain Shut Today On Account Of Bakri Eid

Stock Market Holiday Eid al-Adha 2023: Indian equity benchmarks would remain closed on Thursday, June 29 due to Bakrid. Earlier, the holiday was scheduled for June 28 (Wednesday).

Wholesale commodity markets, including metal and bullion, will also remain closed. There will be no trading activity in the forex and commodity futures markets either.

Commodity markets would be closed for the morning session and trading would be open during the evening session (5:00 pm to 11:30/11:55 pm).

In June 2023, there are nine stock market holidays, including Saturdays and Sundays.

Indian markets hit a record high on June 28 on the back of sustained strong inflows from foreign institutional investors, while the narrowing current account deficit boosted investor sentiment.

The benchmark Sensex hit a record high of 64,012.16 points, while the Nifty touched an all-time high of 19,003.20 points. At 1.30pm, Sensex was up 0.88 per cent or 561 points to 63,977 points and the Nifty gained 0.94 per cent or 177 points to 18,994.74.

“After making several attempts in the past few days, the Nifty finally managed to cross its previous highs. Strong institutional flows, healthy macros and robust earnings growth drove the domestic market towards its new highs,” said Siddhartha Khemka, Head of Retail Research, Broking and Distribution at MOFSL.

Mid and smallcap shares finished higher, with the Nifty Midcap 100 up 0.63 per cent and Nifty Smallcap 100 rising 0.35 per cent. Fear index India VIX rose 1.02 per cent to 10.89.

14 out of the 15 sectoral indices on NSE settled in the green. Sub-indices Nifty Pharma, Nifty Metal, Nifty Oil & Gas, Nifty Auto, Nity Financial Services and Nifty FMCG outperformed the index by rising 1.46 per cent, 1.36 per cent, 0.78 per cent, 0.75 per cent, 0.57 per cent and 0.57 per cent, respectively. In contrast, Nifty Media settled 0.67 per cent lower.

Buying interest in select heavyweights such as Reliance Industries (RIL), HDFC twins (HDFC Bank and HDFC) and Infosys lifted the indices higher. An uptick in most Adani Group stocks also helped the indices to hit fresh high levels today.

On BSE, EPL, Adani Transmission, Adani Enterprises, Adani Ports, Torrent Pharma, Gland Pharma and Suzlon Energy jumped up to 7.53 per cent. Reliance, HDFC Bank and Infosys climbed a per cent, each, while HDFC settled 0.62 per cent higher.

The HDFC duo extended gains ahead of their merger, effective on July 1. And, Adani Group stocks were up after it was reported that US-based investment firm GQG Partners made a third round of investment in the ports-to-energy conglomerate.

Foreign institutional investors (FIIs) bought a net Rs 12,350 crore worth of Indian equities during the previous session, while domestic investors sold Rs 1,021.01 crore of shares, as per provisional NSE data.