Financial markets to remain shut for Ram Navami today
Ram Navami and all the segments will stay shut. However, the multi commodity exchange (MCX) will function as usual in the second session.
Since it’s also a settlement holiday, the commodity account balance on April 17 will not include the credits from profits from trades or positions in the commodity derivatives on April 16 and credits from exiting option positions on April 16.
Markets have a total of 14 holidays in the calendar year 2024.
For the rest of 2024, markets will be shut for Maharashtra Day (May 1), Bakri Id (June 17), Muharram (July 17), Independence Day (August 15), Mahatma Gandhi (October 2), Diwali (November 1), Gurunanak Jayanti (November 15) and Christmas (December 25).
A special muhurat trading will be held on November 01 for Diwali. The exchanges may alter any of the above holidays, for which a separate circular will be issued in advance.
Equity indices continued to slump for the past three days dragged down by heavy selling amid weak global trends and fears of escalating tensions in the Middle East. Outflow of foreign fund also dented investors' sentiment.
Analysts said a drop in the probability of a rate cut in the short-term also added to the selling pressure.
Heightened concerns arose following stronger-than-anticipated US retail sales, amplifying the assumption that the US Federal Reserve might delay rate cuts, leading to a notable uptick in the dollar index and US bond yields.
«The IT sector saw the most significant decline, primarily due to expectations of earnings being affected by
