• Home
  • Business
  • Stock Markets Closed for Eid Today, But Record-Breaking Rally Continues!

Stock Markets Closed for Eid Today, But Record-Breaking Rally Continues!

Indian stock markets take a break for Eid today but the party continues! Record highs for Sensex and Nifty after a strong rally fueled by FMCG, energy, and metal stocks

Stock Markets Closed for Eid Today, But Record-Breaking Rally Continues!

Indian stock markets are closed today, April 11th, 2024, in observance of Eid al-Fitr. This festive occasion marks the end of Ramadan, a holy month for Muslims around the world. However, investors can rest assured knowing the market is poised for continued growth after a record-breaking rally on Wednesday. The benchmark Sensex soared 354 points, surpassing the 75,000 mark for the first time ever. Similarly, the broader Nifty index scaled a fresh lifetime high, fueled by strong performances in FMCG (Fast-Moving Consumer Goods), energy, and metal sectors.
 

 

Double Dose of Holidays, Continued Trading Opportunities
While Eid brings a one-day pause, investors should be aware of another upcoming holiday. The markets will be shut again next Wednesday, April 17th, for Ram Navami, a Hindu festival celebrating the birth of Lord Rama.
However, after Ram Navami, April offers a clear trading window with no further scheduled holidays. This translates to 20 valuable trading days for investors to capitalize on the current market momentum.
 

 

Maharashtra Elections to Impact May Trading
The good news comes with a slight caveat for May. The National Stock Exchange (NSE) will have a shortened trading day on May 20th due to Maharashtra state assembly elections. While the evening session will remain open, the morning session will be closed from 9 am to 5 pm. Previously, May only had one scheduled trading holiday for Maharashtra Day on May 1st. Investors in the state, or those with holdings in Maharashtra-based companies, should be mindful of this adjusted trading schedule.


 

Record-Breaking Performances
The recent market surge was driven by positive performances across various sectors. FMCG giants like Hindustan Unilever and ITC witnessed significant gains, reflecting continued consumer confidence. Additionally, energy and metal stocks like Reliance Industries and Tata Steel also performed well, fueled by optimism surrounding global economic recovery.

The 30-share Sensex closed at an all-time high of 75,038.15, marking a 0.47% increase. The Nifty also reached a record peak of 22,753.80, representing a 0.49% gain.

 

 

What Lies Ahead?
With strong fundamentals and positive investor sentiment, the Indian stock market appears poised for continued growth. While short-term factors like upcoming holidays and elections may cause minor fluctuations, the long-term outlook remains optimistic. 
Investors are eagerly awaiting further economic data releases and corporate earnings reports to solidify their trading strategies. As the global economy recovers and domestic consumption remains strong, Indian equities present a compelling opportunity for both seasoned investors and those just entering the market.


TCS CEO Krithivasan's Compensation: Big Payday, But Not a Record Breaker

TCS CEO Krithivasan's Compensation: Big Payday, But Not a Record Breaker

Tata Consultancy Services (TCS) CEO K Krithivasan's first-year compensation package revealed, to...
Wipro Nears Settlement with Ex-Executives Dalal and Haque After Legal Tussle

Wipro Nears Settlement with Ex-Executives Dalal and Haque After Legal Tussle

Wipro is reportedly close to finalizing a settlement agreement with its former CFO Jatin Dalal and h...
Emirates Soars to Record Profits, Showers Employees with Bonuses

Emirates Soars to Record Profits, Showers Employees with Bonuses

Dubai's Emirates Group, parent company to Emirates Airline, shatters profit records for the seco...
Aditya Birla Fashion and Retail Strengthens Grip on Ethnic Wear Brand Tasva

Aditya Birla Fashion and Retail Strengthens Grip on Ethnic Wear Brand Tasva

 Aditya Birla Fashion and Retail Limited (ABFRL) has acquired an additional 5.54% stake in its ...
Warburg Pincus Makes Landmark Acquisition of Shriram Housing Finance

Warburg Pincus Makes Landmark Acquisition of Shriram Housing Finance

Private equity giant Warburg Pincus has agreed to acquire Shriram Housing Finance, a leading provide...
Blackstone Leads Consortium in Bid for Controlling Stake in Haldiram Snacks

Blackstone Leads Consortium in Bid for Controlling Stake in Haldiram Snacks

A consortium led by private equity giant Blackstone has submitted a bid to acquire a controlling sta...
TVS Holdings Makes Big Move in Consumer Finance with Home Credit India Acquisition

TVS Holdings Makes Big Move in Consumer Finance with Home Credit India Acquisition

TVS Holdings, a leading Indian conglomerate, has acquired a majority stake in Home Credit India, a p...
Byju's Shakes Up EdTech Market: Cuts Fees 30-40%, Boosts Sales Commissions

Byju's Shakes Up EdTech Market: Cuts Fees 30-40%, Boosts Sales Commissions

Byju's Shakes Up EdTech Market: Cuts Fees 30-40%, Boosts Sales Commissions ...
Indian CEOs Set to Make Their Mark at France's Choose France Forum

Indian CEOs Set to Make Their Mark at France's Choose France Forum

Seven Indian business leaders, including Sunil Bharti Mittal and N. Chandrasekharan, will meet with ...
Microsoft Makes Big Land Purchase in Hyderabad for Data Center Expansion

Microsoft Makes Big Land Purchase in Hyderabad for Data Center Expansion

Microsoft has acquired 48 acres of land in Hyderabad for a whopping Rs 267 crore, signaling a signif...