The Indian share market will remain closed on Thursday on account of Republic Day, according to the BSE and NSE list of stock market holidays 2023.
What Happened: Since January 26 is a national holiday, there will be no action in the equity, derivative, and SLB segments.
The commodity segment of MCX will also remain closed as the country marks the anniversary of its Constitution, which came into effect on this day in 1950.
Republic Day is celebrated with a grand parade in New Delhi — alongside many other cultural and patriotic events throughout the country.
Other than this, the BSE calendar has 14 other days when the market will remain closed, excluding the weekends — this includes Holi and Ram Navami in March and Mahavir Jayanti, Good Friday, Dr. Baba Saheb Ambedkar Jayanti in April, among others.
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Meanwhile, on Wednesday, the benchmark indices bled in red as Sensex crashed 773.69 points or 1.27%, settling at 60,205.06 and Nifty 50 tanked 226.35 points or 1.25% to 17,891.95.
The markets already started on a tepid note on Wednesday and U.S. short seller Hindenburg Research‘s report alleging India's richest man Gautam Adani of “pulling the largest con in corporate history” drove it further in the negative direction.
However, the experts remain optimistic about a "pullback rally."
"Presently, Nifty is placed at the crucial support of previous swing lows around 17780-17800 levels. Hence, previously, we have seen decent upside bounces from this support. As long as this support holds, the chances of pullback rally exists," Nagaraj Shetti, technical research analyst at HDFC Securities, said in a note.
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