2024: NSE, BSE to remain closed on these days; check list here

Both Indian stock exchanges Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will remain closed for two days in the month of May 2024. Specifically, both exchanges will be closed on May 1 in observance of Maharashtra Day. The day, also referred to as Maharashtra Day, marks the establishment of the state of Maharashtra on May 1, 1960, following the linguistic reorganization of Indian states. In addition to May 1, the NSE and BSE will be closed on May 20 due to the general elections, specifically when all six Lok Sabha seats in Mumbai are contested in the fifth phase of the seven-phase electoral process. In Maharashtra, Lok Sabha elections are scheduled across five phases. The first two phases took place on April 19 and April 26, with the remaining seats set for voting on May 7, May 13, and May 20. Vote counting is slated for June 4. The 2024 Lok Sabha elections commenced in India with 102 seats voting in the initial phase on April 19, recording a turnout of approximately 65.5%. Subsequently, in the second phase, another 88 seats underwent polling, with a voter turnout of 63%. Here's a list of stock market holidays in 2024 - May 1, 2024 - Maharashtra Day May 20, 2024 - General Elections June 17, 2024 - Bakrid July 17, 2024 - Muharram August 15, 2024 - Independence Day October 2, 2024 - Gandhi Jayanti November 1, 2024 - Diwali November 15, 2024 - Guru Nanak Jayanti December 25, 2024 - Christmas 1:- Stock Market Update On Friday, April 26, the Indian stock market indices, namely the Sensex and the Nifty 50, halted their consecutive five-day streak of gains, influenced by mixed signals from the global market. The Sensex commenced trading at 74,509.31, contrasting with its previous closing figure of 74,339.44. Throughout the trading session, it reached its peak at 74,515.91 and its nadir at 73,616.65. The composite of 30 shares concluded the day with a decline of 609 points, equivalent to 0.82%, settling at 73,730.16, with 24 stocks exhibiting losses. The Nifty 50 commenced trading at 22,620.40, contrasting with its previous closing figure of 22,570.35. Throughout the day, it reached its peak at 22,620.40 and its nadir at 22,385.55. Ultimately, the index concluded the session at 22,419.95, marking a decline of 150 points or 0.67 percent from its previous close. 2 :- US markets last week US stocks rose on Friday on Big Tech earnings. The Dow Jones Industrial Average rose 153.86 points, or 0.40 per cent, to 38,239.66, the S&P 500 gained 51.54 points, or 1.02 per cent, to 5,099.96 and the Nasdaq Composite gained 316.14 points, or 2.03 per cent, to 15,927.90. The US dollar rose to 157.74 yen from 155.61 Japanese yen. The euro fell to $1.0705 from $1.0727. The yield on the 10-year Treasury fell to 4.66 per cent on Friday from 4.71 per cent on Thursday. The 2-year Treasury yield was steady. 3 :- Benchmark US crude oil for June delivery rose 28 cents to $83.85 per barrel on Friday. Brent crude for June delivery added 49 cents to $89.50 per barrel. Gold for June delivery gained $4.70 to $2,347.20 per ounce. Silver for May delivery fell 10 cents to $27.25 per ounce. Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now! Indian stock market: The Nifty remained under selling pressure throughout the session as the index failed to sustain above the crucial level of 22500. On the daily chart, a dark cloud cover pattern is observed, indicating a potential bearish reversal. Immediate support is situated at 22300, below which the Nifty could extend its losses towards 22000. On the other hand, the level of 22500 might act as a technical resistance for the Nifty. Bank Nifty Despite facing selling pressure from higher levels, the BankNifty index managed to defend the crucial support at 48000. The bullish sentiment persists as long as it remains above this level, where significant open interest is concentrated on the put side. Currently, the immediate hurdle lies at 48600, and a decisive breakthrough above this level could pave the way for new all-time highs in the index. City Union Bank Ltd: Buy at ₹160 | Target price: ₹175/185 | Stop Loss: ₹150 The stock is poised for a breakout from a rectangle pattern, suggesting accumulation at lower levels. Trading above both its short-term (20DMA) and medium-term (50EMA) moving averages indicates a bullish undertone. Additionally, the momentum indicator RSI has reversed from oversold territory and entered the strong buying zone, further supporting the potential for an upward move in the stock's price.