Mumbai: The Indian stock markets will remain closed on Monday on account of the Ganesh Chaturthi festival.
Both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have declared September 14 a full trading holiday for Ganesh Chaturthi. Investors will not be able to buy or sell equities on either exchange during the regular trading session. Equity derivatives trading will also remain shut.
MCX To Resume Evening Trading
The commodity market will follow a separate schedule on Ganesh Chaturthi.
The Multi Commodity Exchange (MCX) will remain closed during its morning trading session from 9 am to 5 pm and resume operations at 5 pm. The evening session will remain open until 11:30 pm, or up to 11:55 pm.
A settlement holiday, meanwhile, does not necessarily halt trading. Instead, the clearing and settlement of eligible transactions are suspended for the day.
Indian Markets End Last Week Lower
Last week, Indian equity benchmarks posted notable losses amid a sharp rise in crude oil prices and concerns over global interest rates.
The Nifty declined 2.09 per cent during the week and fell 0.34 per cent on the last trading day to close at 23,398.
The Sensex ended 120 points, or 0.16 per cent, lower at 74,781 and lost 2.27 per cent during the week.
Analysts said global macroeconomic developments weighed on investor sentiment. A firmer US inflation backdrop and rising Treasury yields, with the 10-year US yield approaching the 5 per cent mark, reinforced expectations of a higher-for-longer interest-rate environment and tighter global financial conditions.
The sell-off was broad-based, with major sectors ending lower during the week. Nifty Realty emerged as the biggest loser on the NSE, declining 6.54 per cent on a weekly basis, while the Nifty IT index shed around 5.78 per cent.
Indian equities also witnessed sharp volatility due to the newly launched closing auction session, particularly on derivatives expiry days.
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