Stock Market Holiday: BSE, NSE to remain closed today on account of Diwali Balipratipada

Stock Market Holiday: Stock market today: The Indian stock market will remain closed today, November 14, 2023 on account of Diwali Balipratipada. There will be no trading in the equity segment, equity derivatives segment, and SLB segment. The currency derivatives market is also shut for trading today. 

In the commodity segment, trading at the Multi Commodity Exchange (MCX) will remain closed in the first half on Tuesday, and will resume in the second half at around 5 p.m. (evening session). Trading in the currency derivatives segment and interest rate derivatives segment will remain suspended during the day. 

Balipratipada or Bali Padyami is celebrated on the fourth day of Diwali. It is the first day of the bright lunar fortnight in the Hindu month of Kartika. The day commemorates Lord Vishnu's triumph against the demon-king Bali in the Vamana Avatar, as well as the demon-return king's to the world.

Today's holiday marks the first holiday for stock markets in November. There will be another stock market holiday this month on November 27 on account of Gurunanak Jayanti. Next month, stock markets will be shut on December 25 on account of Christmas. Check full list here.

Also Read: Stock Market Holidays in November 2023: BSE, NSE to remain shut on these days. Full list here

Nifty 50, Sensex on November 13

Domestic equity benchmarks Nifty 50 and Sensex closed lower on Monday, November 13 amid mixed global cues as elevated US treasury yields and the dollar dented the risk appetite of investors. The frontline indices opened lower and traded in the negative territory throughout the session.

Nifty 50 closed at 19,443.55, down 82 points, or 0.42 per cent on Monday, while the Sensex closed the day with a loss of 326 points, or 0.50 per cent, at 64,933.87. Mid and smallcaps outperformed the benchmarks. The BSE Midcap index rose 0.10 per cent while the smallcap index ended with a nominal loss of 0.01 per cent.

Additionally, during a special one-hour Muhurat trading session on Sunday, November 12, which marked the beginning of Samvat 2080, both the Indian benchmark indices gained in trade. The Nifty 50 closed 100 points, or 0.52 per cent, higher at 19,525.55, while the Sensex ended at 65,259.45, up 355 points, or 0.55 per cent. As many as 43 stocks ended higher in the Nifty 50 index.

Also Read: ‘Diwali 2023: Market outlook positive for Samvat 2080; several midcaps, smallcaps available at reasonable prices’

Experts are positive about the growth trajectory of domestic market for Samvat 2080 over India's strong macroeconomic outlook and resilient economy in the face o global headwinds.

“As we bid farewell to Samvat 2079, the horizon of Samvat 2080 looks promising. Our 'Diwali Picks 2023' features 12 stocks with balanced investment potential, including names like HDFC Bank, L&T, Tata Motors, Indigo, Tata Power, ABFRL, Crompton Greaves Consumer Electricals, Usha Martin, Doodla Dairy, Ashoka Buildcon, LG Bal Bros, and Imagica,'' said Prashanth Tapse, Senior VP Research Analyst at Mehta Equities Ltd.

‘’We recommend accumulating these value picks with strong fundamentals for potential growth. The market optimism is fueled by factors such as the Federal Reserve's efforts for a "soft landing," robust GST numbers, active retail participation, easing Middle East hostilities, and declining WTI oil prices,'' added Tapse.