Share Market Today: Google search has just exploded with queries around ‘why the stock market is closed today’ (November 20) and related search terms like ‘share market today’ and ‘share market closed reason’. Google’s Trending Now results revealed over 1 lakh search within an hour with people curious to know the reason.
Trading at both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) is suspended today, 20th November 2024, due to the Maharashtra Assembly Election. All market segments, including equity, derivatives, and securities lending and borrowing (SLB), remain non-operational during this holiday.
BSE Calendar Highlights Trading Holidays
The BSE calendar for 2024 lists a total of 16 trading holidays, with 14 already observed this year. The most recent market holiday was on Friday, 15th November, in honour of Guru Nanak Jayanti. Looking ahead, the next closure is scheduled for Wednesday, 25th December, as the markets pause for Christmas celebrations.
For detailed holiday updates on the NSE, investors can:
1. Visit the official NSE website.
2. Navigate to the ‘Resources’ tab on the homepage.
3. Click ‘Holidays’ under the ‘Exchange Communication’ section.
Tuesday’s Market Performance: Nifty Reverses Gains
In the last trading session on Tuesday, Indian indices initially showed promise with gains but lost momentum later in the day. The Nifty50 formed a bearish candle with a long upper wick on its daily chart, indicating selling pressure.
Despite a brief attempt to recover above its 200-day exponential moving average (DEMA), the Nifty failed to sustain these levels. It has now declined nearly 10% from its 27th September peak of 26,277, entering correction territory. If the index drops 20% from its peak, it would signify a bear market on Dalal Street.
Foreign portfolio investors (FPIs) remain cautious, pulling out significant funds from Indian equities. In November’s first half alone, FPIs withdrew a staggering ₹22,420 crores, extending the trend of heavy outflows seen in October.
The market holiday provides a brief respite amid heightened volatility. Investors will watch upcoming sessions closely, particularly as the indices teeter near key technical levels. With FPIs maintaining a negative stance and the Nifty in correction mode, cautious optimism will be the key for traders moving forward.
