Indian stock market to remain closed on January 26- QHN

On Thursday, selling pressure in IT stocks and persistent foreign fund outflows led to a decline in benchmark stock indices. (Photo: Bloomberg)

On account of Republic Day 2024, the Indian stock exchanges, NSE and the BSE, will remain closed on Friday. The trading in equities, equity derivatives, currency derivatives, and interest rate derivatives will be suspended. Additionally, securities lending and borrowing, along with wholesale commodity markets, including metals and bullions, will also be closed.

The markets will also remain closed for the next two days on account of weekend holidays. This means the trading will resume on Monday, January 29.

Republic Day celebrations

Massive Republic Day celebrations are on cards on the 75th year of the anniversary of the country becoming a republic. French President Emmanuel Macron will grace the grand celebrations in New Delhi as the chief guest of the event, set to begin at 10:30 am.

India became independent in 1947 and a republic on January 26, 1950.

Sensex, Nifty decline at close of trading on Thursday

On Thursday, selling pressure in IT stocks and persistent foreign fund outflows led to a decline in benchmark stock indices.

The 30-share BSE Sensex dropped 359.64 points or 0.51 per cent  to close at 70,700.67. It experienced an intraday plunge of 741.27 points to 70,319.04.

The Nifty fell by 101.35 points or 0.47 per cent to 21,352.60.

Tech Mahindra Q3FY24 result disappoints

Tech Mahindra led the Sensex decline, plummeting over 6 per cent as it reported a 60 per cent drop in net profit to Rs 510.4 crore in the December quarter.

Bharti Airtel, Asian Paints, Wipro, HDFC Bank, ITC, HCL Technologies, Nestle, Tata Steel, were among the other major laggards.

ICICI Bank, NTPC, Bajaj Finance, Bajaj Finserv, IndusInd Bank, Reliance Industries, JSW Steel, and Mahindra & Mahindra were among the gainers.

(With agency inputs)

First Published: Jan 26 2024 | 9:35 AM IST