Stock Market Holiday On Guru Nanak Jayanti 2024: What Is Open And Closed For Trading On Friday, November 15?

Stock Market Holiday 2024: Trading in the Indian stock market will be closed on Friday, November 15, due to the celebration of Guru Nanak Jayanti across the country. Both Sensex and Nifty 50 have continued to witness bearish week and recorded six consecutive losing streak after the US election. Here is the list of market-related instruments where trading will be closed on November 15.

Stock Market Holiday Today:

On November 15, trading will be closed in Equity Segment, Equity Derivative Segment, SLB Segment, Currency Derivatives Segments, NDS-RST, Tri-Party Repo, Commodity Derivatives Segment and Electronic Gold Receipts (EGR) Segment. Trading in American Depositary Receipts of Indian stocks listed on US exchanges, along with stocks listed on the NYSE and Nasdaq will be operational as normal.

November 15, 2024, marks the celebration of the birth of Guru Nanak Gurpurab, also known as Guru Nanak Prakash Utsav. He was the first Sikh guru and founder of Sikhism. That being said, it is one of the most sacred festivals in Sikhism, or Sikhi.

Stock Market Weekly Outlook:

On November 14th, Sensex ended at 77,580.31, down by 110.64 points or 0.14%, while Nifty plunged by 26.35 points or 0.11% to close at 23,532.70. The day saw the slowest drop in the week, however, Indian benchmarks could not recover to cross the bearish border.

While in five sessions, Sensex has dropped by 1,981.89 points or 2.49%, while Nifty 50 plunged by 637.90 points or 2.64%.

Going ahead, for the next week, Vinod Nair, Head of Research, Geojit Financial Services said, the domestic market is in correction terrain; from the recent peak, the main indices, Nifty and Sensex, have corrected around 10%. Weakness in Q2FY25 results and sustained outflow of foreign funds weighed on the sentiment. On the other hand, a spike in domestic CPI inflation to a 14-month high of 6.2%, a firm dollar index, and a rising US 10-year yield signal that the volatility will continue in the short term.

He explained further that investors are rushed to unwind their positions in the riskier assets as the continuity of the premium valuation without fair earnings growth will not be sustained.

Giving outlook, Nair said, the muted H1FY25 results increased the scope of further downgrades in the FY25 Nifty EPS estimates. We factor a 2 to 3% downward revision in the Nifty EPS estimate for FY25. Amid a setback in H1FY25, investors see some light in H2FY25 earnings on account of acceleration in government spending, a good monsoon, and a revival in rural demand.

Although, consolidation may continue in the near term; however, Nair also said that the beaten-down value stocks may witness bottom fishing due to their potential outlook.

Hence, going ahead, the focus will be the developments from the Trump administration and its implications towards the EMs. The policy proposals are likely to add upward pressure on US inflation, which may impact the future Fed rate cut trajectory, as per Nair.

Indian stock market will resume trading from Monday, November 18th onward.