Stock market holiday 2023: BSE, NSE to remain closed today on account of Gurunanak Jayanti

Stock market holiday 2023: Indian equity benchmarks would remain closed on Monday, as per the BSE website. The domestic benchmarks would be shut today to mark Gurunanak Jayanti.

The equity segment, equity derivative segment and the SLB (Security Lending and Borrowing) segment would also remain closed. Commodity markets would be closed for the morning session but it will be open for the evening.

In November 2023, there are 10 stock market holidays in total, including Saturdays and Sundays.

In the previous session, Indian equity benchmarks settled lower, dragged by technology and consumer good stocks. The 30-share BSE Sensex pack slipped 48 points or 0.07 per cent to close at 65,970, while the broader NSE Nifty index moved 7 points or 0.04 per cent down to end at 19,795.

Although, mid and smallcap shares finished in the green, with the Nifty Midcap 100 up 0.06 per cent and Nifty Smallcap 100 rising 0.30 per cent. India VIX, fear index, edged 0.13% to higher 11.33-level.

Five out of the 15 sectoral indices on NSE settled in the red. Sub-indices IT and Nifty FMCG and Nifty Consumer Durables underperformed the index by falling 0.97 per cent and 0.47 per cent, respectively. In contrast, Nifty Metal rose 0.67 per cent and Nifty Pharma gained 0.87 per cent.

On BSE, HCL Tech, Wipro, TCS, Nestle India, Tech Mahindra, Tata Motors, Infosys and IndusInd Bank fell up to 1.55 per cent. Also, CG Power, KPR Mill, Paytm, Manappuram Finance, Mahindra Finance, Indiabulls Real Estate and Nippon Life India Asset Management tanked up to 6.57 per cent.

On the flip side, General Insurance Corporation of India, The New India Assurance Company, Life Insurance Corporation of India and Data Patterns (India) zoomed up to 20 per cent.

Out of a total of 3,814 stocks that traded during the day on BSE, 1,948 settled with losses while 1,752 others ended higher. The rest 114 stocks stayed unchanged.

The domestic bourses would reopen on November 28.

Technical view: Nifty outlook

"Nifty has encountered difficulty surpassing the resistance range of 19,850-19,900. On the downside, 19,700 has held as a near-term support level. As long as there's no breakout, the index is expected to continue moving sideways. A decline below 19,700 could potentially trigger a market correction. Conversely, a clear move above 19,900 might prompt a significant rally, potentially driving the index towards a new all-time high," said Rupak De, Senior Technical analyst at LKP Securities.

Nifty Bank outlook

"The sentiment appears sideways in the short term. 44,000 level is poised to remain a pivotal point. A decisive move above this mark could potentially trigger a substantial rally for the index. On the downside, visible support resides around 43,500," De stated.