Is Share Market Closed On September 19, Ganesh Chaturthi?

Both NSE and BSE have marked September 19, 2023, as the holiday for Ganesh Chaturthi. On this day, all segments including equity, derivatives, and SLB markets will remain closed.

While main celebrations kick off on September 19, 2023, per the Hindu calendar, the festivities kick off at 12:39 pm on Sept. 18 and wrap up at 8:43 pm the next day.

What do traders need to know?

The equity, equity derivatives, currency derivatives, interest rate derivatives, and securities lending and borrowing (SLB) segments will stay closed on Sept. 19. Additionally, the Multi Commodity Exchange (MCX) won’t operate its morning session on Sept. 19 in observance of Ganesh Chaturthi, but it will reopen for the evening session from 5 pm to 11:30 pm.

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How did markets perform on September 18?

On Monday, both Sensex and Nifty took a dip, pausing their record-setting spree. Investors are weighing in on China’s economic moves and eagerly awaiting policy decisions from major central banks, including the U.S. Federal Reserve.

Sensex dropped by 241.79 points to settle at 67,596.84, marking a 0.36% decline. Meanwhile, Nifty closed at 20,133.30, down by 59 points or 0.29%.

Weak global signals pushed the market to open lower. Throughout the day, it stayed in the red, closing near its lowest point. However, purchases in sectors like auto, power, and PSU banks helped offset some of the losses.

Hindalco Industries, Jio Financial, HDFC Bank, Bharti Airtel, and Adani Ports were among the top Nifty losers. On the flip side, Titan Company, M&M, BPCL, HDFC Life, and Power Grid Corporation saw gains.

Sector-wise, the PSU Bank index rose by 3.4%. Power, auto, and FMCG indices increased between 0.5-0.8%. In contrast, realty and metal indices both dropped by 1%, and bank, IT, and pharma sectors decreased by 0.5%.

Mid-cap companies, more focused on local markets, saw a 0.17% decline, while small-cap stocks edged up by 0.2%.

Delta Corp, SAIL, and NALCO experienced a volume spike exceeding 300%.

Nagaraj Shetti, a Technical Research Analyst at HDFC Securities, shared insights with Benzinga India. He pointed out a potential ‘Bearish Tri-Star’ pattern in the current chart, hinting at a short-term top reversal for Nifty around 20,222 levels. He emphasized that if Nifty drops below the 10-day EMA support of 19,940, it could indicate more short-term declines. However, he doesn’t foresee a sharp sell-off and places the immediate resistance at 20,220 levels.

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