The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) are closed on Friday in observance of Republic Day, with normal trading activities set to resume on Monday.
This year marks India’s 75th Republic Day, commemorating the adoption of the constitution on January 26, 1950, and the attainment of sovereignty.
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How stock markets fared this week?
Over the past week, the benchmark indices—Sensex and Nifty—remained relatively unchanged with notable volatility.
On Thursday, the 30-share BSE Sensex declined by 359.64 points or 0.51 per cent, settling at 70,700.67. The index opened lower and further plunged by 741.27 points or 1.04 per cent, hitting a low of 70,319.04 in day trade. Nineteen Sensex shares dropped, while eleven advanced.
The broader Nifty fell by 101.35 points or 0.47 per cent, settling at 21,352.60, with 34 of its constituents closing in the red.
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A surge in US bond yields and a mix of corporate financial results prompted selling by Foreign Institutional Investors (FIIs), according to analysts. IT, pharma, and FMCG shares experienced declines, while realty and energy stocks bucked the trend.
Among Sensex shares, Tech Mahindra saw a decline of over 6 per cent after reporting a 60 per cent drop in net profit to ₹510.4 crore in the December quarter.
Bharti Airtel, ITC, Asian Paints, HDFC Bank, Nestle, Tata Steel, and Maruti were among the other major laggards.
IT shares faced declines as third-quarter results failed to impress investors. Wipro dropped 1.68 per cent, HCL Tech by 1.54 per cent, TCS by 1.03 per cent, and Infosys by 0.22 per cent.
NTPC, ICICI Bank, IndusInd Bank, Reliance Industries, JSW Steel, Bajaj Finance, Bajaj Finserv, and Mahindra & Mahindra were among the gainers.
When is the next stock market holiday?
Apart from trading off days on Saturday and Sunday, the next scheduled stock market holidays are on March 8 and March 24 for Mahashivratri and Holi, respectively.
(Inputs from wires)