Sensex, Nifty To Remain Closed On Ganesh Chaturthi

(MENAFN- IANS) Mumbai, Sep 14 (IANS) The Indian stock markets are set to remain closed on Monday on account of the Ganesh Chaturthi festival.

Both the NSE and BSE have declared September 14 a full trading holiday for Ganesh Chaturthi.

Investors will not be able to buy or sell equities on either exchange during the regular trading session. Equity derivatives trading will also remain shut.

The commodity market will follow a separate schedule on Ganesh Chaturthi.

The Multi Commodity Exchange (MCX) will remain closed during its morning trading session, from 9 am to 5 pm, and resume operations at 5 pm. The evening session will remain open until 11:30 pm, or up to 11:55 pm.

On the other hand, a settlement holiday does not necessarily halt trading.

Instead, the clearing and settlement of eligible transactions are suspended for the day.

Last week, the Indian equity benchmarks posted notable losses amid a sharp rise in crude oil and worries over global interest rates.

Nifty declined 2.09 per cent during the week and shed 0.34 per cent on the last trading day to reach 23,398.

At close, Sensex was down 120 points, or 0.16 per cent, at 74,781. It lost 2.27 per cent during the week.

Analysts said that global macro developments weighed on investor sentiments.

A firmer US inflation backdrop and rising Treasury yields - with the 10‐year US yield approaching the 5 per cent mark - reinforced expectations of a higher‐for‐longer rate environment and tightening global financial conditions.

The sell-off was broad-based, with major sectors ending lower during the week. Nifty realty emerged as the biggest loser on NSE down 6.54 per cent on a weekly basis.

The Nifty IT index shed around 5.78 per cent during the week.

The Indian equities saw sharp volatility due to the newly launched closing auction session, particularly on derivatives expiry days.

-IANS

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