Stock Market Observance: BSE, NSE to Remain Closed on Ambedkar Jayanti

Indian Equity Market Declines Ahead of Holiday

The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will remain closed on April 14 due to Dr. Baba Saheb Ambedkar Jayanti. Trading in equities, equity derivatives, securities lending and borrowing (SLBs), currency derivatives, and interest rate derivatives will be suspended for the day on both exchanges.

The commodity derivatives segment will remain closed for the morning session (9:00 am to 5:00 pm) on April 14, but will resume trading in the evening session (5:00 pm to 11:30/11:55 pm). Trading on the NSE and BSE will resume on April 15.

In the previous session, the Indian equity market came under pressure following the failed talks between the US and Iran. At close, the Sensex was down 702.68 points or 0.91 percent at 76,847.57, and the Nifty was down 207.95 points or 0.86 percent at 23,842.65.

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HDFC Life, Adani Enterprises, ICICI Bank, NTPC, and Tata Motors Passenger Vehicles were among the top gainers on the Nifty, while Maruti Suzuki, Eicher Motors, Reliance Industries, Bajaj Finance, and Interglobe Aviation were among the losers.

The broader indices declined but outperformed the benchmark indices, with the Nifty Midcap and Smallcap indices falling 0.5% each.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, noted that the sharp bounce back of the last 6 sessions seems to have halted on Monday due to the failure of peace talks between the US and Iran. He added that the Nifty declined and closed the day lower by 207 points amidst recovery.

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The Indian rupee ended 65 paise lower at 93.38 per dollar on Monday, extending its losing streak to three sessions. The downward pressure stems from a spike in crude oil prices after President Trump ordered a blockade of the Strait of Hormuz. Dilip Parmar, Research Analyst at HDFC Securities, noted that the USDINR pair is trading between a support level of 92.70 and resistance at 93.65.