The BSE and NSE along with India’s largest agricultural commodity exchange, NCDEX, will not open for trading on Wednesday to observe Ram Navami.

The MCX will also halt trading from 9 am to 5 pm but will resume after 5 pm. The next market holiday will be on Maharashtra Day (May 1).

Besides these holidays, markets will also remain closed for election day in Mumbai (May 20) Bakri Id (June 17), Muharram (July 17), Independence Day (August 15), Mahatma Gandhi’s Birthday (October 2), Diwali (November 1), Gurunanak Jayanti (November 15), and Christmas (December 25).

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The Markets on Tuesday: Benchmark indices the Sensex and the Nifty 50, closed with losses for the third consecutive session on Tuesday. At market close, the Sensex was down 456.10 points or 0.62% at 72,943.68, while the Nifty 50 fell 124.60 points or 0.56% to 22,147.90.

One of the major factors contributing to the stock market decline is the escalating tension in the Middle East due to the Israel-Iran conflict, which has resulted in geopolitical uncertainty in the region. Talking about the market slump, Prashanth Tapse, senior VP (Research), Mehta Equities said, “Weak global cues such as a sharp rise in US bond yields due to rising middle-east tensions has made equity markets less attractive and prompted investors to resort to profit taking.”

The Nifty IT index was the top loser among sectoral indices, ending with a loss of 2.58%. All components in the index closed in the red amid concerns that the US Federal Reserve may not begin cutting rates this year. IT heavyweight Infosys and Wipro are scheduled to release their March quarter earnings later this week.

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