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Business News/ Markets / Stock Markets/  Stock market trading shut today for Republic Day holiday
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Stock market trading shut today for Republic Day holiday

Share market holiday: NSE, BSE are not open for trade today due to national holiday for Republic Day

NSE, BSE shut for trading today due to Republic holiday (Bloomberg)Premium
NSE, BSE shut for trading today due to Republic holiday (Bloomberg)

NSE, BSE will remain closed on January 26 due to national holiday for Republic Day.

Apart from the equity segment, equity derivative segment and SLB segment, it is a trading holiday for even currency derivatives segments and commodity derivatives segment and electronic gold receipts (EGR) segment.

On January 25, Nifty ended at 17,891.95 down 1.25%, or 226 points, while Sensex closed at 60,205, lower by 773.69 points, or 1.27%. High volatility, monthly expiry and Hindenburg revelations sent jitters among investors.

Except a handful of stocks such as HUL, ITC and NTPC, all other stocks on Sensex closed in the red. SBI, IndusInd Bank, HDFC Bank and Axis Bank were the top losers. On the other hand, HUL, Maruti and Tata Steel were the top gainers on Sensex.

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“Nifty was trending in the range for the whole January series from 18,200 to 17,800 levels. On the monthly expiry day, Nifty slumped in a terrifying session and ended way below psychological 18,000 mark to close the series at 17,892. The level of 17,800, which is the 50% retracement support of recent up move is still intact and acting as an anchor point for the index," said Rohan Patil, Technical Analyst, SAMCO Securities.

“The benchmark Index in January expiry has made a couple of attempts to breach 17,800 – 17,780 levels but was not successful as prices were continuously finding support near that zone. Nifty on the weekly chart is placed between a broader high-low range of 18,200 -17,800 levels from the past 5 weeks. Furthermore, the price is also trapped between the 9 & 21 EMA bands which suggest a break on either side will decide further directional move in the index," he added.

Meanwhile, Indian currency strengthened today after 2 weak sessions to close at 81.48 against the US dollar.

“Indian rupee strengthens, bucking the previous two days’ underperformance, on inflows from green bond issuance and the anchor book of Adani’s FPO oversubscribed. However, the risk-averse sentiments and stronger dollar have put a limit on the rupee’s gain," said Dilip Parmar, Research Analyst, HDFC Securities.

“In the near-term, spot USD/INR is expected to hover around 81.50 as most of the month-end dollar demands are met. The short-term traders should eye 81.80 for further short-covering bounce while breaking 81.20 push the pair towards 80.90," said Parmar.

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Published: 26 Jan 2023, 05:18 AM IST
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