Stock Market Holidays: BSE, NSE to Remain Closed on May 28 Due to Bakri Id/Eid al-Adha

Indian Stock Markets Closed on Account of Bakri Id

The Indian stock markets will remain closed on May 28, a day marked by the celebration of Bakri Id, with trading suspended across major segments on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Trading in equities, equity derivatives, securities lending and borrowing (SLBs), currency derivatives, and interest rate derivatives will remain shut for the day on both exchanges. However, the commodity derivatives segment will remain closed during the morning session from 9:00 am to 5:00 pm, but trading will resume in the evening session between 5:00 pm and 11:30 pm/11:55 pm.

Market activity on the NSE and BSE will resume on May 29 (Friday).

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Market Activity on May 27

Indian equity markets witnessed range-bound activity throughout the session on May 27 amid persistent geopolitical uncertainty surrounding the US-Iran situation despite easing crude oil prices. Benchmark indices erased opening losses during the initial hours and oscillated between gains and losses before ending marginally lower.

At close, the Sensex was down 141.90 points or 0.19 percent at 75,867.80, and the Nifty was down 6.55 points or 0.03 percent at 23,907.15.

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Broader indices outperformed the main indices, with the Nifty Midcap index rising 0.4%, and Smallcap index ending with marginal gains.

Hindalco Industries, Power Grid Corp, Tata Motors Passenger Vehicle, Eternal, NTPC were among major gainers on the Nifty, while losers were ONGC, ITC, HDFC Life, HDFC Bank, Wipro.

On the sectoral front, media, power, capital goods added 3% each, while auto, metal, telecom up 1% each, while selling was seen in the IT, FMCG, banking, oil & gas names.

Sectoral Performance

Shrikant Chouhan, Head Equity Research, Kotak Securities, noted that the benchmark indices witnessed narrow-range activity, with the Nifty ending 7 points lower while the Sensex was down by 142 points. Among sectors, the Media index outperformed today, rallying over 3 percent, whereas the Capital Market index was the top loser, shedding 1.60 percent. Technically, after a muted open, the market hovered between the 23,850/75,700 to 23,980/76,200 range. It also formed a small candle on the daily charts and showed non-directional activity on intraday charts, indicating indecisiveness between the bulls and the bears.

Dilip Parmar, Research Analyst, HDFC Securities, observed that the Indian rupee ended flat at 95.69 per dollar versus previous close of 95.68. Defying morning pressure, the Indian rupee clawed its way back to close with a small loss on the back of softening crude oil prices and a broad-based greenback retreat. Near-term spot USDINR exhibits a resistance at 95.86 and a support at 95.50.