Stock Market Holiday: On account of Id-Ul-Fitr (Ramadan), trading at Indian indices (both BSE and NSE) will remain closed today. According to the official website of BSE — bseindia.com — trading in equity, equity derivative and SLB Segment will remain closed today. Trading at commodities and currency derivative segment will also remain closed today for Id-Ul-Fitra celebrations, claims BSE India website.
After Id-Ul-Fitra, next stock market holiday will fall on 21st July 2021 followed by 19th August 2021 for Bakri Id and Muharram respectively. Earlier, in April, stock market was closed thrice on 2nd April 2021, 14 April 2021 and 21st April 2021 on account of Good Friday, Dr. Baba Saheb Ambedkar Jayanti and Ram Navmi respectively.
On May 12th, 2021, Indian benchmark equity indices fell for the second consecutive session on the back of negative global cues. Nifty opened gap down, but made an attempt to recover. At 1230Hrs, the previous day’s low proved to be a tough resistance for the Nifty and it began to fall making lower tops and lower bottoms. At close, the Nifty was down 154.30 points or 1.04% at 14696.50.
Volumes on the NSE were above the recent averages. Among sectors, PSU Bank index was the main gainer, while Bank, Metal and energy indices were the main losers.
Nifty fell on May 12 filling the up gap made on May 07. It closed near the intraday low; Advance decline ratio fell into the negative suggesting nervous profit taking by investors across stocks. Fears of a high April CPI number in the US today evening has dragged global stocks down. However unless the figure is substantially higher than forecast of 3.6%, markets could bounce in the near term. 14611 to 14790 is the band for the Nifty in the near term.
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