Indian stock markets closed on Wednesday for Guru Nanak Jayanti - World News Network

Mumbai (Maharashtra) [India], November 5 (ANI): The domestic stock markets are closed on Wednesday on account of Prakash Gurpurb Sri Guru Nanak Dev.
Both the major stock exchanges, the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), will remain shut for equity and derivative trading.
As per the exchange notification, the commodity markets will remain closed in the morning session but will be open in the evening session from 5 pm to 11.55 pm.
Trading in the equity and derivative segments will resume on 6th November.
Fund withdrawal requests will also be processed on 6th November, while instant fund withdrawal facilities will not be available on Wednesday due to the market holiday.
Ahead of the midweek holiday, the Indian stock market ended on a weak note on Tuesday as both key indices slipped into the red at the time of closing.
The Nifty 50 index closed at 25,597.65, down 165.70 points or 0.64 per cent, while the BSE Sensex settled at 83,459.15, declining by 519.34 points or 0.62 per cent.
Commenting on the market performance, Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, said that markets extended their losing streak, with Nifty slipping 0.64 per cent on the weekly expiry day.
“The index has now ended in the red in three of the last four sessions amid persistent profit booking in frontline stocks,” he added.
He noted that Nifty opened weak and continued to drift lower throughout the day, forming a bearish candle on the daily chart and closing below its 20-EMA at the day’s low. The daily RSI also cooled off sharply from a recent swing high of 72.43 to 52.76, reflecting waning momentum.
Among individual stocks, Titan and Bharti Airtel emerged as top gainers, while Power Grid and NTPC were among the notable laggards. On the sectoral front, all indices ended in the red, with Nifty Metal and Nifty IT leading the decline.
In the broader markets, profit booking emerged after the Nifty Midcap 100 hit a fresh 52-week high in the previous session. Both Nifty Midcap 100 and Nifty Smallcap 100 declined by 0.42 per cent and 0.82 per cent, respectively. Market breadth remained weak, with only 143 of the Nifty 500 constituents closing higher.
According to Shah, Nifty is expected to find support around the 25,480-25,440 zone, followed by 25,310, while resistance is seen at 25,820-25,840. A sustained move above 25,840 could drive the index toward 25,960.
For Bank Nifty, he noted that the index continued to outperform and remained range-bound amid buying interest in PSU banking names. The 57,450-57,400 zone is likely to act as strong support, while resistance is placed around 58,250-58,350. A breakout above 58,350 could pave the way for a move toward 58,800 in the near term. (ANI)

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