Stock Market Holidays, EId-Ul-Fitr: Trading On BSE, NSE Closed For Three Days; Is It Open Tomorrow?

Trading is closed on April 11th on stock exchanges BSE and NSE due to the celebration of Ramadan Eid across India. This week, many back-to-back festivals had coloured the streets of India with enthusiasm and joy, leading up to a long list of public holidays. However, for the Indian stock market, there are only three days of holiday this week. But with Ramadan being a three-day-long holiday, is the stock market open tomorrow? Find out, the dates market is closed this week!

After being opened for trading from April 8th to 10th, the stock market is closed on April 11th for trading in equity, equity derivatives, SLB, and currency derivatives segments. This is due to the celebration of Id-Ul-Fitr (Ramzan Id).

The Eid al-Fitr holiday is packed with a three-days holiday, however, this fluctuates from country to country. In India, holidays also fluctuate from state to state.

The other days the market will be closed are April 13th and 14th due to weekend holidays by default. Accordingly, the market will be open for trading on April 12th.

In the previous session, BSE and NSE surged to new heights. The Nifty index hit an all-time high of 22,776 points, while the Midcap Index also soared to a new peak at 50,443 points. After market hours, the Sensex rose by 355 points to close at 75,038, while the Nifty gained 111 points to settle at 22,754 points. The Nifty Bank index climbed 256 points to reach 48,987, and the Midcap Index surged by 486 points to close at 50,380.

In Vinod Nair, Head of Research, Geojit Financial Services views, Indian markets sustained their upward momentum, buoyed by a robust performance in the broader market, albeit slightly lagging behind its Asian and European counterparts. Investor attention remains fixated on the impending release of the FOMC minutes and US inflation data later today. Following the release of strong US job data, market sentiments are inclined towards an anticipation of spike inflation, thereby reducing the likelihood of a near-term rate cut. Additionally, Fitch's recent downgrade of China's credit rating could potentially reverberate through the global economy, warranting a caution.

Further, Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services said, "Indian Markets will remain closed on Thursday on account of Ramzan. It would take cues from its global peers as the US will release inflation data late today along with Fed meeting minutes. Also, the ECB interest rate decision will be announced on Thursday. Overall we expect the ongoing up-move to continue in the market with Nifty 265 points away from crossing the 23k mark. The broader market too is likely to continue its outperformance along with stock-specific action on the back of strong domestic flows and healthy business updates. The technology sector is expected to be in focus as TCS will announce its Q4FY24 results on Friday."

To investors, Ajit Mishra, SVP - Technical Research, Religare Broking guided saying, "The rotational buying across sectors combined with stability at the global front is helping the index to inch higher with every passing day. We are eyeing the 22,850-23,100 zone in Nifty ahead and expect the 22,350-22,500 zone would act as a strong support in case of any profit taking. The beginning of the earnings season would trigger stock-specific volatility ahead so participants should plan their positions accordingly."

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