Is Share Market Closed On August 15, Independence Day?

Equity markets in India will take a pause on August 15, observing the national celebration of Independence Day. This means all segments, from equity and derivatives to SLB, will hit the pause button. The multi-commodity exchange will follow suit, remaining inactive throughout Tuesday.

For those keeping count, the equity market will enjoy 15 holidays this year, a slight uptick from the 14 observed in 2022.

Markets on August 14: Monday’s trading session saw benchmark indices dip initially, only to recover later, even amidst a backdrop of global market uncertainties. The Sensex wrapped up with a gain of 137 points, settling at 65,460, while the Nifty edged up by 21 points from its previous close.

Market experts hint at a prevailing mood of caution. The trend seems to favour selling when prices rise, largely influenced by global market jitters. The banking sector, represented by the Bank Nifty, has felt the heat in recent sessions. The RBI’s move to hike the CRR of banks, aiming to balance out excess liquidity, hasn’t done any favours for banking sentiments.

As traders and investors recalibrate, all eyes are set on the upcoming domestic inflation data.

On the technical front, the market’s potential to bounce back hinges on the 19,400 mark luring in bargain hunters. Nagaraj Shetti of HDFC Securities points out, “The daily chart reveals a pattern of declining peaks and troughs. Monday’s low, 19,257, is the latest in this sequence. Any upward movement might face resistance around the 19,600 mark, with immediate support hovering around 19,250.”

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