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As per the BSE holiday calendar, the stock markets will not be operational today, 4th April 2023, on account of Mahavir Jayanti. This closure includes all segments such as equity, derivatives, and SLB.
The multi-commodity exchange will remain closed for the morning session; however, it will resume trading at 5 pm for the evening session.
Another market holiday will be observed on April 7th for Good Friday. During this holiday, all segments on the exchanges and MCX will remain shut for the entire day.
Furthermore, the markets will remain closed on Ambedkar Jayanti next week. In total, the market will remain closed for three days this April.
In 2023, the markets will have 15 annual holidays, two more than the previous year.
On Monday, Sensex and Nifty benchmark indices had gains for the third consecutive session. Although the market traded in a narrow range, crude oil prices had an unexpected increase, which caused some concern for investors on the first day of the new financial year.
Investors believed that the price pressure would ease and give the central bank room to pause the rate hike. However, OPEC+‘s surprise production cut has led to concerns about inflationary pressure, which may encourage central banks to remain hawkish.
The short-term trend remains positive as Nifty closed above the support level of 17,200, giving the bulls an upper hand. On the higher end, 17,500 will act as a crucial resistance for the index.
If Nifty makes a decisive move above 17,500, a strong directional upmove may occur.