MUMBAI– Trading on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will remain suspended on Wednesday in observance of the Ganesh Chaturthi festival.
All segments, including equities, derivatives, securities lending and borrowing (SLB), currency derivatives, and interest rate derivatives, will be closed for the day. The commodity derivatives market will remain shut during the morning session from 9 a.m. to 5 p.m., before resuming for the evening session from 5 p.m. to 11:55 p.m. Regular trading across the exchanges will restart on Thursday, August 28.
The closure coincides with the imposition of fresh 25 per cent U.S. tariffs on Indian goods, which will raise total duties on exports to 50 per cent. Analysts expect the impact of the new tariff regime to reflect on the markets when they reopen. India’s top exports to the U.S. include engineering and electronic goods, pharmaceuticals, and gems and jewellery.
On Tuesday, Indian equities closed sharply lower, with the Sensex falling 849 points, or 1.04 per cent, to 80,786.54, while the Nifty dropped 255 points, or 1.02 per cent, to 24,712. Among Nifty stocks, Shriram Finance, Sun Pharma, Tata Steel, Bajaj Finance, and Trent were top losers, while Eicher Motors, HUL, Maruti Suzuki, Nestle India, and ITC gained.
All sectoral indices except FMCG ended in the red, with PSU banks, metals, pharma, oil and gas, consumer durables, realty, and telecom declining between 1–2 per cent. Technical charts showed a long bearish candle with a lower top formation, pointing to further downside.
Foreign institutional investors offloaded Rs 6,517 crore worth of equities on Tuesday — their biggest single-day selling since May 20 — while domestic institutional investors provided support, purchasing Rs 7,060 crore, provisional data showed.
Global cues remained mixed. In Asia, markets traded unevenly as investors weighed China’s industrial profit data, while on Wall Street overnight, the Dow Jones rose 0.3 per cent, the Nasdaq climbed 0.44 per cent, and the S&P 500 gained 0.41 per cent. (Source: IANS)
