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

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed on March 3 on account of Holi. 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 during the morning session but will be open for trading in the evening session. Trading on the NSE and the BSE will resume on March 4 (Wednesday). The Indian equity indices fell more than 1% on March 2 amid weak global cues, as escalating tensions between the US and Iran pushed crude oil prices sharply higher, dampening investor sentiment. The Indian equity indices fell 1% on March 2 amid weak global cues, as escalating tensions between the US and Iran pushed crude oil prices sharply higher, dampening investor sentiment. Biggest Nifty losers were L&T, Interglobe Aviation, Adani Ports, Tata Motors Passenger Vehicles, Adani Enterprises, while gainers included Bharat Electronics, Sun Pharma, ONGC, Dr Reddy's Labs and Hindalco. Except metals, all other sectoral indices ended lower with Auto, Consumer Durables, Oil & Gas down 2 percent each. "The Nifty opened gap down amid weakness emerging from the Middle East. The index has slipped below the rising trendline on the daily timeframe, indicating increasing pessimism in the market. The RSI remains in a bearish crossover, confirming weak momentum," said Rupak De, Senior Technical Analyst at LKP Securities. "The immediate crucial support is placed at 24,600. A decisive breakdown below this level could trigger a deeper correction in the market. On the higher side, resistance is seen at 25,000. Until the Nifty sustains above 25,000, overall sentiment is likely to remain tilted in favor of the bears," he added. On Monday, the Indian rupee ended 50 paise lower at 91.47 per dollar versus Friday's close of 90.97. "Triggered by spiking oil prices in the wake of the Iran crisis, the Indian rupee saw its sharpest one-day drop since late January. The currency remains under pressure as investors move toward safe-haven assets, foreign capital outflow from the equities, and fears grow that expensive imports will hurt the trade balance," said Dilip Parmar – Senior Research Analyst, HDFC Securities. "For now, the USDINR pair maintains a bullish bias, facing a ceiling at 92.00 while expected to find floor around 91.10," he added.