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NSE, BSE to remain closed today on Muharram, two more holidays in August

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Stock Market Holiday: India’s equity, currency and commodity markets are shut on Tuesday, August 9, 2022, on account of Muharram. While the equity and currency markets will resume trade on Wednesday, August 10, 2022, commodity markets will resume for the evening trading session at 5 pm on Tuesday.

Commodity markets follow two sessions – morning session from 9:00 am to 5:00 pm and evening session from 5:00 pm till 11:30/11:55 pm.

On Monday, the frontline equity indices on the BSE and National Stock Exchange (NSE) rose for the second consecutive session and ended over 0.7 per cent higher. The S&P BSE Sensex surged 465.14 points (0.80 per cent) to end at 58,853.07 while the Nifty 50 climbed 127.60 points (0.73 per cent) to settle at 17,525.10.

The rupee depreciated by 39 paise to close at 79.63 against the US dollar on Monday, pressured by dollar demand and waning risk appetite among investors.

Commenting on the outlook for Nifty, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “The short-term trend of Nifty remains positive with range bound action. A sustainable move above 17,550 levels could be considered as an upside breakout of the range and that could pull Nifty towards the next important resistance of 17,800-17,900 levels in the near term. Immediate support is placed at 17,430 levels.”

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