BackStock market holidays in June: Check full list here
Indian festivals, both national and regional, as well as weekends, are some of the primary triggers of stock market holidays in India.
PremiumIndian festivals, both national and regional, as well as weekends, are some of the primary triggers of stock market holidays in India. There will be a total of 9 holidays, including weekends, in the month of June. Here is a list of holidays that investors should carefully examine before making their trading decisions for the Dalal Street in June series.
Stock market holidays in June
June 3, 2023: Saturday, Weekend
June 4, 2023: Sunday, Weekend
June 10, 2023: Saturday, Weekend
June 11, 2023: Sunday, Weekend
June 17, 2023: Saturday, Weekend
June 18, 2023: Sunday, Weekend
June 24, 2023: Saturday, Weekend
June 25, 2023: Sunday, Weekend
June 28, 2023: National Holiday due to Bakri Id / Eid ul-Adha on Wednesday
Markets start on a cautious note amidst negative global cues. Nifty started the day on a higher note at 18,579.40 level whereas Sensex started the day at a higher note at 62,736.47 levels.
Gaurav Dua, Head Capital Market Strategy, Sharekhan by BNP Paribas said “Indian markets have gained smartly in the past two months with continued outperformance over its emerging market peers. Thereby, taking the benchmark index, Nifty, across the broad range of 2000 points between 16,000-18,000 level for a sustained basis."
“Thankfully, the FII flows have also been positive for the past three consecutive months. More importantly, the FII flows have reversed the trend to enter positive territory on a 12-month trailing basis after a long gap since December 2021. This is a good indicator of the sustainability of FII flows over the next few months," said Gaurav Dua.
“However, we do not see an immediate re-rating trigger for Nifty/Sensex. Hence, Nifty could consolidate within the 300-400 points range for most of the month in June. But this could mean good activity in the broader markets with the possibility of mid-caps outperforming over large-cap companies in the immediate term. From investors' point of view, we continue to maintain our stance of “Buy on Dips" to leverage the multi-year economic upcycle in India," Gaurav Dua further added.
Commenting on the stock market outlook for June, A R Ramachandran, Co-founder & Trainer-Tips2trades said "Despite better than expected GDP data, Nifty looks bearish and has strong resistance at 18670 on the Daily charts. With the upcoming US Non farm payrolls data expected this Friday, US markets especially the Nasdaq also being overbought, June could be a sideways to bearish month. Investors should avoid aggressive buy positions this month."
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