Stock market holiday today: BSE, NSE to remain shut on account of Ambedkar Jayanti

Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will remain closed on April 14 on account of Dr. Baba Saheb Ambedkar Jayanti.

Trading in equities, equity derivatives, securities lending and borrowing (SLBs), currency derivatives, and interest rate derivatives will remain shut for the day on both the BSE and the NSE.

The commodity derivatives segment will remain closed for the morning session (9:00 am to 5:00 pm), while it will remain open for the evening session (5:00 pm to 11:30/11:55 pm).

Trading on the NSE and the BSE will resume on April 15 (Wednesday).

After a strong rebound in the previous session, the Indian equity market came under pressure on April 13, after the recent talks between the US and Iran failed without a deal.

At close, the Sensex was down 702.68 points or 0.91 percent at 76,847.57, and the Nifty was down 207.95 points or 0.86 percent at 23,842.65.

Among sectors, except power, defence, telecom, all other sectors ended in the red with FMCG, auto, IT, energy, oil & gas down 1% each.

HDFC Life, Adani Enterprises, ICICI Bank, NTPC, Tata Motors Passenger Vehicles were among top gainers on the Nifty, while losers included Maruti Suzuki, Eicher Motors, Reliance Industries, Bajaj Finance, Interglobe Aviation.

Broader indices declined but outperformed the benchmark indices, with the Nifty Midcap and Smallcap indices falling 0.5% each.

"The sharp bounce back of the last 6 sessions seems to have halted on Monday on the backdrop of failure of Peace Talk between US and Iran and Nifty declined and closed the day lower by 207 points amidst recovery. After the sharp gap down opening of 460 points, the market shifted into a sustainable recovery from the lows and that continued in the mid-to- later part of the session. The opening downside gap has almost been filled (left with small margin) and Nifty closed at the highs," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

"A long green candle was formed on the daily chart at the lows, which indicates a formation of counter attack of bull type pattern. After the series of bearish lower tops and bottoms formations in the recent past, Nifty registering a new higher low at 23555 on Monday could be a sigh of relief for bulls to sustain the recent bounce back."

"The weakness of Monday has not damaged the underlying near-term uptrend status of the market. Nifty is now placed at the crucial support of 23500 levels and one may expect further upside in the near term. Immediate resistance is at 24100," he added.

On Monday, the Indian rupee ended 65 paise lower at 93.38 per dollar on Monday versus Friday’s close of 92.73.

"The Indian rupee extended its losing streak to three sessions, recording its deepest drop in a fortnight. The downward pressure stems from a spike in crude oil prices after President Trump ordered a blockade of the Strait of Hormuz. All eyes are on the 10:00 AM EST window for potential US Military movement following failed diplomatic talks. Meanwhile, local sentiment is cautious as investors await India's CPI data before Tuesday’s holiday," said Dilip Parmar, Research Analyst, HDFC Securities.

"Technically, the USDINR pair is trading between a support level of 92.70 and resistance at 93.65," he added.