Stock Market Holidays: Trading On BSE, NSE To Be Closed For 3 Days This Week; Check Date And Weekly Outlook

Stock Market Holidays: The trading week from December 23rd to 27th is holiday-shortened sessions. Accordingly, the market will be closed for three days this week, including the Christmas holiday and weekends. The broader market sentiment continues to remain bearish, with Nifty 50 having key support around 23,200 with strong resistance seen between the 23,800-23,900 zone. A breakout from these levels could take Nifty towards 24,300 this week. Last week, markets including in India witnessed intense correction.

Stock Market Holidays:

As per the BSE, and NSE list, the stock market will be closed for three days this week. The first holiday this week is on December 25th due to Christmas celebrations across India. The holiday will follow weekend holidays on Saturday, December 28 and Sunday, December 29 which are by default.

Christmas is an annual festival commemorating the birth of Jesus Christ, observed primarily on December 25 as a religious and cultural celebration among billions of people around the world. Christmas Day is a public holiday in many countries, is observed religiously by a majority of Christians, as well as celebrated culturally by many non-Christians, and forms an integral part of the annual holiday season, as per Wikipedia.

Stock Market Weekly Outlook:

Last week, during trading sessions of December 16th to 20th, Sensex nosedived by 3,485.81 points or 4.25%. While the Nifty 50 benchmark dropped by 964.80 points or 3.91%.

Currently, the 50-scrip benchmark is at 78,488.64, and 23,738.20. The bearish trend emerged globally after the US Federal Reserve gave a hawkish tone for 2025, with fewer rate cut expectations.

On the last week's performance, Puneet Singhania, Director at Master Trust Group said, the Indian benchmark indices witnessed a sharp decline, with the Nifty50 falling below its 200-day EMA and snapping a four-week winning streak. The index erased nearly 80% of the gains accumulated over the past four weeks, plunging 1180 points or 4.77% to settle the week at 23,587. The Bank Nifty declined over 5%, while the Sensex fell below the crucial psychological mark of 80,000 to settle at 78,041. Among sectoral indices, the pharma sector was the sole gainer, while all other indices ended in the red. The sell-off was driven by multiple factors, with profit-booking by FIIs at higher levels ahead of Christmas and year-end holidays emerging as a key trigger.

He added, that pressure came from the Fed's downbeat commentary for 2025, a weakening Indian rupee against the U.S. dollar, and a surprise uptick in the India VIX, which heightened market fear. FIIs, who were net buyers in the first two weeks of December, turned net sellers amid a shift toward yielding assets like U.S. bonds following the Fed's revised projection of two rate cuts in 2025, down from four previously projected. This shift saw U.S. 10-year bond yields rise by 3% and the dollar index gain nearly 1% for the week. FIIs net sold ₹15,828 crore in the cash market, while DIIs provided support with a net investment of ₹11,874 crore during the week.

For the December 23-27 trading session, Puneet said for Nifty, the next key support is at 23,200, where prices may find some cushioning. On the upside, strong resistance lies in the 23,800-23,900 zone, and a break above this could drive the index towards 24,300. However, the broader market sentiment remains bearish, with a "sell-on-rise" approach prevailing. Traders should exercise caution, closely monitoring support and resistance levels amid heightened volatility and weak technical signals.

On the Bank Nifty weekly outlook, Puneet said, key supports are positioned at 50,200 and 49,800, where prices are likely to stabilize. On the upside, the resistance zone lies at 51,000-51,200, with a breakout potentially leading to 51,900. The overall strategy remains bearish, favouring selling near resistance levels as the index struggles to regain upward momentum amidst negative technical signals.