Stock Market Holiday 2025: The citizens of Sikkim will be celebrating its statehood day on May 16. RBI has declared bank holiday for this region. While it is a public and school holiday for Sikkim. Does this holiday apply to trading on BSE and NSE on Friday? Sensex and Nifty skyrocketed at least 1.6% each on May 15th.
Stock Market Holiday 2025:
As per the holiday list on BSE and NSE, May 16th is not a trading holiday for the market. The only statehood day BSE and NSE follow is of May 1st which is the celebration of Maharashtra Day.
Hence, trading will be available on BSE and NSE on Friday in equities, equity derivatives, currencies, commodities and more.
Sensex, Nifty Performance:
Sensex closed at 82,530.74, higher by 1200.18 points or 1.5%, while Nifty 50 closed at 25,062.10, higher by 395.20 points or 1.60%. All indices turned bullish on May 15th, with strong buying seen in realty, services, metal, banking, capital goods, utilities, IT, auto and financial services stocks.
Talking about the performance, Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services said, Indian equities soared on Thursday, with the Nifty jumping 1.6% to close at 25,062-breaching the 25,000 mark for the first time since October 2024, signaling a strong comeback for the bulls. The rally was triggered by positive comments from U.S. President Donald Trump, who stated that India had offered to drop tariffs on U.S. goods as part of trade negotiations and traders swiftly covering their short positions.
The analyst added, broader markets also participated in the upmove though underperformed the Nifty. Nifty Midcap 100 and Smallcap 100 indices gaining 0.7% and 0.5%, respectively. All sectoral indices ended in the green. Nifty Realty led with gains of 1.9%, while auto stocks extended their rally for the third straight session. Defense stocks remain in focus, buoyed by strong domestic demand and rising export optimism, having gained nearly 11% this week.
Sensex, Nifty Prediction:
"Market volatility remained elevated through the day, partly due to the weekly expiry of Nifty derivatives. On the institutional front, both FIIs and DIIs turned net buyers on Wednesday, collectively purchasing around ₹1,200 crore, providing further support to the market's momentum. Globally, the UK posted better-than-expected Q1 GDP growth of 0.7%. Investors now await key global data releases-U.S. Initial Jobless Claims, U.S. Retail Sales, and Japan's GDP-which could guide near-term market direction. On the earnings front, results from Hyundai Motors, BHEL, CreditAccess Grameen, and Eureka Forbes are due on Friday-potentially driving stock-specific action," Khemka said.
Meanwhile, Ajit Mishra - SVP, Research, Religare Broking said, "the recent surge in the Nifty index has reinforced our positive outlook. A decisive breakout above the 25,200 level could potentially take the index towards the 25,400+ zone. We continue to advocate a "buy on dips" strategy, with a strong emphasis on selective stock picking, especially in light of overbought conditions in certain segments."
On the technical front, Shrikant Chouhan, Head - Equity Research, Kotak Securities said, there is a bullish candle on the daily charts and an uptrend continuation formation on the intraday charts, indicating a further uptrend from the current levels. He added, "We believe that the market's outlook remains positive, but buying on intraday corrections and selling on rallies would be the ideal strategy for day traders. On the downside, 24,900/82200 and 24,750/81800 would act as key support zones, while 25,210-25,300/82800-83000 could serve as key resistance levels for the bulls. However, below 24,750/81800, the uptrend would become vulnerable."
Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.
Click it and Unblock the Notifications
Sign in with Google