Today, July 17, Indian stock markets, including BSE and NSE, remain closed in observance of Muharram. Trading will resume tomorrow, July 18. Muharram marks the beginning of the Islamic New Year and holds significance for Muslims worldwide as a time of reflection and remembrance.
On July 16, the Indian benchmark indices hit new highs, with the BSE Sensex reaching a peak of 80,895.6 points before closing at 80,717, marking a modest gain of 52 points or 0.06%. The NSE Nifty50 also saw gains, touching a high of 24,656 and closing at 24,613, up by 26 points or 0.11%.
Asian markets showed mixed results on the preceding trading day. Hong Kong’s Hang Seng index edged up by 9 points, while Japan’s Nikkei 225 gained 40 points, reflecting positive investor sentiment. In contrast, Taiwan’s weighted index dropped by 56 points and China’s Shanghai Composite index fell by 13 points, indicating selling pressures in those markets.
Key Indian stocks such as Bharti Airtel, Infosys, and ICICI Bank saw gains, contributing to the market’s upward momentum. However, sectors like Nifty Media witnessed declines, while Nifty Realty posted notable gains.
In 2024, there are a total of 14 scheduled stock market holidays in India, with upcoming closures on August 15 for Independence Day, October 2 for Mahatma Gandhi Jayanti, and other significant national holidays.
Investors can utilize this break to strategize and prepare for upcoming trading sessions. With recent positive developments and investor optimism, the market is expected to resume its upward trajectory in the days ahead.
