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Stock market holiday today: On Thursday, August 15, equity markets will remain closed in observance of Independence Day, as per the BSE market holiday calendar. As a result, all segments, including the equity segment, derivative segment, and SLB segment, will not operate today.
Similarly, the Multi-Commodity Exchange (MCX) will be closed for both morning and evening sessions.
In addition to Independence Day (August 15), the markets will be closed on several other occasions in 2024, including Id-E-Milad (September 16), Mahatma Gandhi Jayanti (October 2), Diwali (November 1), Gurunanak Jayanti (November 15), and Christmas (December 25). The exchanges reserve the right to modify these holidays and will issue a separate circular in advance if any changes are made, says an ET report.
During Wednesday’s trading session, the Indian benchmark indices BSE Sensex and Nifty50 experienced marginal gains, following global market trends. This upward movement was influenced by softer U.S. producer prices data, which strengthened expectations of an interest rate cut by the Federal Reserve in September.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, commented on the market scenario, saying, “The PPI inflation numbers from the US indicate softening of inflation, and a confirmation of this declining trend is likely from the CPI numbers coming today. The US market moved up yesterday in anticipation of this and a rate cut by the Fed in September. If the rate cut is by 50bp, the US market will remain resilient lending support to global markets. This is the likely scenario. On the other hand, if the Fed disappoints with no rate cut, the market will sell off and this will have repercussions globally.”
Vijayakumar further noted, “In India, the pattern of FII selling on valuation concerns and DII buying supported by money flows continues. Some segments like defence-related stocks which have run far ahead of fundamentals are witnessing corrections. Financials continue to be under pressure on concerns arising from rising costs of deposits. For long-term investors, quality banking stocks offer value.”
Similarly, the Multi-Commodity Exchange (MCX) will be closed for both morning and evening sessions.
In addition to Independence Day (August 15), the markets will be closed on several other occasions in 2024, including Id-E-Milad (September 16), Mahatma Gandhi Jayanti (October 2), Diwali (November 1), Gurunanak Jayanti (November 15), and Christmas (December 25). The exchanges reserve the right to modify these holidays and will issue a separate circular in advance if any changes are made, says an ET report.
During Wednesday’s trading session, the Indian benchmark indices BSE Sensex and Nifty50 experienced marginal gains, following global market trends. This upward movement was influenced by softer U.S. producer prices data, which strengthened expectations of an interest rate cut by the Federal Reserve in September.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, commented on the market scenario, saying, “The PPI inflation numbers from the US indicate softening of inflation, and a confirmation of this declining trend is likely from the CPI numbers coming today. The US market moved up yesterday in anticipation of this and a rate cut by the Fed in September. If the rate cut is by 50bp, the US market will remain resilient lending support to global markets. This is the likely scenario. On the other hand, if the Fed disappoints with no rate cut, the market will sell off and this will have repercussions globally.”
Vijayakumar further noted, “In India, the pattern of FII selling on valuation concerns and DII buying supported by money flows continues. Some segments like defence-related stocks which have run far ahead of fundamentals are witnessing corrections. Financials continue to be under pressure on concerns arising from rising costs of deposits. For long-term investors, quality banking stocks offer value.”
