The stock market in India is closed on Monday (November 27) on account of Guru Nanak Jayanti. Hence, trading will remain closed across equity, equity derivatives, currency derivatives, and SLB segments. So far in this year (2023), the stock market has remained closed for 13 weekdays, including November 27. In December, Christmas is the only market holiday. Markets will resume trading on Tuesday, November 28.
Guru Nanak Jayanti, which is also known as Gurupurab, is the most important festival for the Sikh community. It is celebrated to commemorate the birth anniversary of Guru Nanak Dev, the first Sikh guru and the founder of Sikhism.
In the previous session on Friday, the equity benchmark indices were trading flat after initial gains amid high volatility. The 30-share BSE Sensex climbed 67.71 points to 66,085.52 in early trade. The Nifty advanced 28.9 points to 19,830.90. However, later, both the benchmark indices faced heavy volatility and were trading between highs and lows. Sensex closed 48 points in the red at 65,970, while Nifty50 settled at 19.794, down 7 points.
On the 30-share Sensex platform, NTPC, Mahindra & Mahindra, Sun Pharma, UltraTech Cement, HDFC Bank and Axis Bank were the major gainers. On the downside, Tata Motors, HCL Tech, Tech Mahindra and Bajaj Finserv were among the laggards.
Last week, the BSE benchmark climbed 175.31 points or 0.26 per cent.
Foreign institutional investors (FIIs) bought equities worth Rs 255.53 crore on Thursday, according to exchange data.
Meanwhile, the BSE has issued fresh guidelines for small and medium enterprises wanting to migrate from the exchange’s SME platform to the main board. According to the new guidelines, the applicant will be required to have a net worth of at least Rs 15 crore for the last two financial years. According to the new norms, the applicant firm should be listed on the SME platform for at least three years. Additionally, the applicants would need to have 250 public shareholders before applying for a shift to the main board.