Is Share Market Closed On April 11, Eid-Ul-Fitr?

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will be closed for trading on Thursday in observance of Eid-Ul-Fitr (Ramzan Id). Additionally, the National Commodity and Derivatives Exchange (NCDEX), India’s largest agricultural commodity exchange, will also remain closed tomorrow.

However, the Multi Commodity Exchange (MCX) will have its first trading session closed from 9 am to 5 pm but will resume trading after 5 pm. The next market holiday is on April 17, in honour of Ram Navami.

The Markets: Sensex, India’s stock market benchmark, reached a historic milestone, surpassing the 75,000 mark for the first time. Similarly, the Nifty 50 also achieved a new record closing high.

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The Sensex started the trading day with a gain of 270 points, opening at 74,953.96, surpassing its previous close of 74,683.70. It surged to an intraday peak of 75,105.14, marking an increase of approximately 421 points. Ultimately, the index concluded the session at 75,038.15, up by 354 points or 0.47%.

Likewise, the Nifty 50 began the day’s trading with a rise of 78 points, starting at 22,720.25 compared to its prior close of 22,642.75. It hit a new all-time high of 22,775.70 during the trading session, gaining 133 points. The index wrapped up the day at 22,753.80, reflecting a rise of 111 points or 0.49%.

“Even as FII investment in local equities has been volatile over the past few months, domestic flows have been strong which has been a key catalyst behind markets touching record highs,” Prashanth Tapse, Senior VP (Research), Mehta Equities.

“Inflows into open-ended equity mutual funds slumped 16% to ₹22,633 crore in March, led by outflows in small cap funds (first time in 30 months). Inflows into equity funds have remained in the positive zone for the 37th straight month. SIP inflow in March 2024 was at ₹19,271 crore against ₹19,187 crore in February,” said Deepak Jasani, Head of Retail Research, HDFC Securities.

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Posted In: EquitiesMarketsMarket Holidays