Stock Market Holiday Thursday, January 26, 2023: The Indian stock market will remain closed on Thursday, January 26, 2023, for the Republic Day celebration. Both the leading equity benchmarks, BSE and National Stock Exchange (NSE) will stay shut. The currency derivatives segment, NDS-RST, Tri-Party Repo, Commodity Derivatives Segment and Electronic Gold Receipts (EGR) Segment will also remain shut, according to the list of stock market holidays 2023 available on the official BSE website. Trading in the multi-commodity exchange (MCX) and the National Commodity & Derivatives Exchange Ltd (NCDEX) will also remain suspended on January 26 for both morning and evening sessions.
Republic Day marks the adoption of the Indian constitution on January 26, 1950. Though India got independence from the British Raj in 1947, the Constitution of India came into effect on January 26, 1950. Dr BR Ambedkar led the Drafting Committee of the Constitution.
The domestic equity market will remain closed for a total of 15 days in 2023, other than the weekends. There are four other holidays falling on Saturdays and Sundays, while 15 are on weekdays. In the previous calendar year, there were 13 holidays. On normal days, equity benchmarks NSE and BSE open at 9:15 AM and closes at 3:30 PM from Monday to Friday, while the market remains closed on Saturday and Sunday.
On Wednesday, Indian equity indices crashed over 1% on the monthly F&O expiry day. The Nifty 50 settled below 17,900 and Sensex below 60,210. The BSE Sensex crashed 773.69 points or 1.27% settling at 60,205.06 and NSE Nifty 50 tanked 226.35 pts or 1.25% to 17,891.95. In the sectoral indices, Bank Nifty fell 2.54%, Nifty PSU Bank tanked 3.58%, Nifty IT dropped 0.90% and Nifty Pharma dipped 1.22%.
“The Nifty opened on a negative note on January 25 & tumbled down sharply as the day progressed. It breached the key daily moving averages on the way down. The larger structure, however, shows that the index is still in the range, that it has been witnessing for the last month. It recently tested the upper end of the range & thereon it has tumbled down towards the lower end i.e. 17,800-17,760. This zone has been acting as strong support & is likely to provide support this time as well. Thus unless the level of 17,760 breaks, the Nifty can witness recovery within the short-term range,” said Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas.