The auspicious festival of Ganesh Chaturthi is just around the corner. However, there is some confusion as to when the 10-day festival will exactly start.
What Happened: As per the Hindu Panchang, the Chaturthi (fourth day) of the Shukla Paksha (bright fortnight) in the month of Bhadrapada will commence at 02:09 pm on Sept.18 and conclude at 03:13 pm on Sept. 19. Consequently, Ganesh Chaturthi at most places will officially be observed on Tuesday, Sept. 19.
As a result, trading in the Indian stock market will resume its regular operations on Sept. 18, 2023, after the weekend. Both the NSE and BSE had designated September 19 as a holiday. The next scheduled holiday after Ganesh Chaturthi is on October 2, on the occasion of Gandhi Jayanti.
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Markets Last Week: The Indian market continued its glorious run last week. On Friday, Sept.15, the Sensex concluded the trading session at 67,838.63, marking a gain of 320 points or 0.47%, while the Nifty settled at 20,192.35, rising by 89 points or 0.44%. Throughout the day, the Sensex surged by 408.23 points or 0.60%, achieving a fresh all-time high intra-day peak of 67,927.23.
Auto and IT stocks played a significant role in propelling the indices to new record highs on Friday, resulting in both the Nifty and Sensex achieving all-time closing highs. This marked the 11th consecutive session of gains for the Sensex.
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In contrast, this year’s highlight performers, the small-cap and mid-cap segments experienced a decline last week following the sharpest single-day fall of 2023 on September 12. During the week, the BSE small-cap index and mid-cap index remained under pressure, recording declines of 1% and 0.5%, respectively.
Editor’s Note: Artificial Intelligence was used as a secondary aid in the writing of this article.
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