Stock Market Holiday 2022: The share market will remain closed on Wednesday, August 31, on the occasion of Ganesh Chaturthi. According to information available on the NSE website, NSE will not conduct any trading for the entire session on Ganesh Chaturthi. Similarly, there will be no stock action on BSE on August 31, 2022, in the Equity Segment, Equity Derivative Segment, and SLB Segment.
Commodity markets will be closed for the morning session on Wednesday. The regular trading will take place in the evening session, according to the schedule. For traders in commodities, Multi Commodity Exchange (MCX) will be closed for the first between 9 am and 5 pm on Wednesday. It will open during the second half of the session from 5 pm to 11.30 pm. Similarly, the National Commodity & Derivatives Exchange Limited (NCDEX) will be shut during the morning session between 9 am and 5 pm and will resume operations from 5 pm till 9 pm.
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Stock Market Holidays in 2022
After 31 August 2022, the next stock market holiday will fall in the month of October, meaning there is no market holiday in September. Stock exchanges will remain shut on four other occasions in October and November. The days are 5 October (Wednesday), 24 October (Monday) and 26 October (Wednesday) on account of Dussehra, Diwali or Laxmi Pujan and Diwali Balipratipada respectively. In November there will be one trading holiday on 8 November (Tuesday) on account of Gurunanak Jayanti. In total, there were 13 declared holidays during the calendar year 2022.
Domestic stocks on Tuesday fully reversed the previous day’s losses, as US futures recovered some ground even as Asian markets remained mixed. At home, the gainers were mainly led by banking and financial stocks. The market capitalisation of all listed companies on BSE jumped Rs 5.73 lakh crore to Rs 280.35 lakh crore from Rs 274.56 lakh crore on Monday, as Sensex climbed over 1,600 points and Nifty50 zipped past the 17,700 level.
Santosh Meena, Head of Research, Swastika Investmart Ltd., said: “Indian equity market witnessed a surprise and powerful rally to welcome Lord Ganesha. Our markets are showing resilience despite volatile global cues, and a surge in crude oil prices but such kind of rally bewildered everyone. This powerful rally can be attributed to delivery-based buying by the FIIs and short covering in the F&O market. Rupee also witnessed a sharp appreciation against the USD despite higher crude oil prices which is a clear indication of FIIs’ interest in the Indian equity market. The leadership was in the hands of financial names, whereas the Nifty realty index was the best performing index.”
“The market is heading towards the festive season on an exhilarating note and there is a high probability that the Nifty and Sensex may hit new highs ahead of Diwali. The downside is protected near 200-DMA of 17,000 level,” Meena opined.
The broader indices too displayed overall strength as they ended the day on a strong note with BSE Midcap gaining 1.9 per cent and BSE Smallcap rising 1.4 per cent.
The India VIX, which indicates the degree of volatility traders expect over the next 30 days, declined sharply by 5.66 per cent from 19.82 to 18.7.
Ajit Mishra, VP – Research, Religare Broking Ltd., said: “Markets have completely engulfed the recent decline with a decisive up move however sustainability would be critical for a further uptick. While the global cues are still mixed, upcoming domestic data like core sector and auto sales numbers will be on the radar for cues. We recommend maintaining a positive yet cautious stance and suggest preferring top-performing sectors like banking, financials, auto, FMCG, and realty for long positions.”
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