BSE, NSE Shut Today on Diwali Balipratipada: Today, on 14th November, there is a holiday for the stock market on the occasion of Diwali Balipratipada. Today National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will remain closed. There will be no trading in equity, equity derivatives, interest rate derivatives, currency derivatives, and security lending and borrowing today. Wholesale commodity markets including metal and bullion will also remain closed today. There will be normal trading in the stock market on 15th November.
There was a decline in the market on 13 November
Amidst mixed global signals, selling was seen in the domestic stock market yesterday i.e. on 13th November. There was a weakness of 326 points in Sensex and it closed at the level of 64934. While Nifty fell by 82 points and closed at the level of 19444. Weakness has been seen in almost every sector of business. On Nifty, Bank, Financial, Auto, IT, Metal, Pharma and Realty indices closed in the red. There was selling in heavyweight shares. 23 shares of Sensex 30 closed in the red. Top losers included BAJFINANCE, INFY, TECHM, TCS, ICICIBANK, and NESTLEIND, while M&M, JSWSTEEL, NTPC, and POWERGRID were the top gainers.
Global trend weak, pressure on market:-
Vinod Nair, Head of Research, at Geojit Financial Services, says that after Diwali, consolidation in Indian stocks continued amid global uncertainty. The sharp decline in IIP growth and weak manufacturing PMI reflects global trends driven by higher interest rates and inflation. The weakness of the Indian rupee keeps FIIs cautious. However, the market’s decline is limited by strong earnings, economic stability, and inflows of domestic institutional investors. There is a potential reversal as October CPI inflation at the domestic level is expected to decline. Notably, public sector banks have been performing well due to strong credit growth, better asset quality, and strong balance sheets and this trend is expected to continue.