Stock Market Holidays: Trading On BSE, NSE To Be Closed For Three Days; What To Expect In 1st Week Of FY25?

The stock market is closed for trading as investors enjoy a long weekend. To be precise, trading on BSE and NSE is closed for three days, starting from March 29 to 31st. Accordingly, the financial year 2022-23 has ended for market-related instruments. With FY25 set to start, will the market be open for trading on April 1?

Firstly, the is closed on March 29, Friday due to the auspicious occasion of Good Friday across the country. Meanwhile, the market is set for a long weekend as trading is closed on March 30th and 31st by default as they are Saturdays and Sundays.

Secondly, as per the stock market holidays 2024 list on BSE and NSE, although April 1st is the start of the financial year 2024-25 book, trading on BSE and NSE will be opened.

On March 28th, the Sensex surged by 655 points to settle at 73,651, while the Nifty 50 climbed by 203 points to reach 22,327. Year-to-date, Sensex has surged by 1,363.54 points or 1.89%, while Nifty 50 outperformed its counterpart with an upside of 585 points or 2.9%. In FY24, Sensex touched its all-time high of 74,245.17, and Nifty 50 clocked its lifetime high at 22,526.60.

In the financial year 2023-24, FPIs investment in the equity market stood at Rs 2,08,212 crore, while its inflow in debt instruments stood around Rs 1,21,059 crore. FPIs were also net buyers of hybrid instruments to Rs 12,767 crore. However, they were net sellers of debt-VRR of Rs 2,972 crore. Together, FPIs have invested a whopping Rs 3,39,066 crore in FY24 in the overall Indian market.

Sensex and Nifty 50 have surged by 27% and nearly 31% in a year to date.

On the stock market's FY24 performance, Vinod Nair, Head of Research, Geojit Financial Services said, "FY24 marked a rewarding period for the Indian market. Large caps recorded a substantial 33% return, midcaps surged by 56%, and small caps excelled with an impressive 63%, as indicated by the respective broad indexes. It was loaded by the upgrade in FY24 economy growth, as the Indian GDP forecast was uplifted on a QoQ basis from 6.4% to 7.3% during the year. There was a rampage in corporate earnings growth, like with the 23-24% YoY EPS forecast for the Nifty50 index. Retail inflows remained robust, supported by direct investments as well as investments through MFs. The number of trading accounts held by domestic investors reached 16.7cr, underscoring increased market participation. Additionally, FIIs exhibited improved net buying activity, buoyed by India's economic outperformance relative to other EMs experiencing slowdowns."

However, Nair also added, "The year ended on a subdued note, with substantial selling pressure till the 20th of March. Nevertheless, there has been some relief in the market in recent trading sessions as the pressure from leveraged selling has eased and buying activity has improved, albeit at lower volumes."

For the first trading week of FY25, Nair said, "In the coming first week of April, there is a flurry of significant data releases expected, like PMI in the US and India, factory orders, and unemployment data in the US. Additionally, market participants will closely monitor signals regarding policy rates, particularly from the RBI. Moreover, attention will be on India's Q4FY24 result forecasts, which are expected to indicate a healthy performance."