The Indian stock market will remain shut on Tuesday, 19 September, on account of Ganesh Chaturthi; therefore, there will be no trading activity today. Equity, equity derivatives, interest rate derivatives, currency derivatives, and securities lending and borrowing will also remain closed.
Trading in the commodity derivatives segment will remain suspended from 9:00 a.m. to 5 p.m., but it will resume at 5:00 p.m. for the evening session. So, trading in the commodity segment will remain open from 5:00 p.m. to 11:30 p.m.
Ganesh Chaturthi is the only stock market holiday falling in the month of September 2023. The next stock market holiday falls on 2 October 2023 on the occasion of Mahatma Gandhi Jayanti. The stock market holiday was on 15 August 2023 for the Independence Day celebration.
On Ganesh Chaturthi, there will be a bank holiday at different states on 18, 19, and 20 September. According to RBI holiday calendar for 2023-24, banks in the following cities will remain closed in Gujarat, Maharashtra, Orissa, Tamil Nadu and Goa on 19 September. On 20 September, banks will remain closed in Orissa and Goa due to Ganesh Chaturthi (second day) and Nuakhai.
On Monday, 18 September, the Indian benchmark indices ended near the day’s low with the Sensex falling 242 points, snapping its 11-day gaining streak. In a volatile session, the 30-share BSE Sensex fell by 241.79 points or 0.36 per cent to settle at 67,596.84. Retreating from its all-time high, the broader Nifty closed 59.05 points or 0.29 per cent down at 20,133.30.
HDFC Bank, Bharti Airtel, Infosys, Tata Steel, and UltraTech Cement were the top laggards on Monday, while PowerGrid, Titan, Mahindra & Mahindra, NTPC, and Bajaj Finserv were among the gainers.
"Domestic markets relinquished their momentum as they anticipated a raft of policy rate decisions due this week. The investor's confidence was also impacted by the expectations of a demand resurgence in China, combined with crude supply cuts. With the Fed rate hike fears back on the cards, as reflected in the elevated US bond yields, the markets await clarification from major central banks," said Vinod Nair, Head of Research at Geojit Financial Services.
The Indian rupee settled marginally lower at 83.27 per dollar on Monday, compared to Friday’s close of 83.18.