Stock market: The stock market will observe a three-day closure this week due to the Christmas holiday and the regular weekend break. December 25, 2024, is a public holiday for Christmas, a widely celebrated festival in India and across the world. Following this, the markets will remain shut on Saturday (December 28) and Sunday (December 29) as part of the usual weekend schedule, making it a holiday-shortened trading week.
According to the BSE holiday calendar, all major segments, including capital markets, futures and options, and the Currency Derivatives Segment, will be non-operational on December 25. Similarly, trading in commodity derivatives and electronic gold receipts (EGR) will be halted on both the Multi Commodity Exchange (MCX) and the National Commodity Exchange (NCDEX) during the day.
Is market open on new year?
However, trading activities will resume on January 1, 2025, marking the beginning of the new year for financial markets. Unlike many international markets that observe closures on New Year’s Day, Indian exchanges will resume trading activities following the holiday-shortened week.
Share market on December 23
Equity benchmark indices Sensex and Nifty rebounded sharply on Monday after five days of steep decline amid value buying at lower levels and a supportive trend in global markets. The 30-share BSE benchmark Sensex jumped 498.58 points or 0.64 per cent to settle at 78,540.17. During the day, it soared 876.53 points or 1.12 per cent to 78,918.12. The NSE Nifty surged 165.95 points or 0.70 per cent to 23,753.45. From the 30 blue-chip stocks, ITC, Tech Mahindra, HDFC Bank, Reliance Industries, IndusInd Bank, Titan, State Bank of India and ICICI Bank were the biggest gainers. New entrant Zomato, Maruti, Nestle, HCL Tech, Bajaj Finserv and Tata Motors were among the laggards.
Rupee against dollar
Meanwhile, the rupee failed to resist pressure from strengthening American currency and lost 7 paise to settle at 85.11 (provisional) against the US dollar on Monday despite a sharp recovery in domestic equities. According to forex traders, the rupee stayed weak due to significant dollar demand. Moreover, higher crude oil prices triggered by volatile geopolitical situations also dented sentiments. They said the dollar index is expected to remain elevated as the US Federal Reserve indicated a slower-than-expected rate cut in 2025. At the interbank foreign exchange, the rupee opened at 85.02 and touched the lowest level of 85.13 (provisional) against the greenback before ending the session at 85.11 (provisional) against the greenback.
(With PTI inputs)
