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Stock Market Holiday tomorrow: Every year on April 14, India celebrates Ambedkar Jayanti to commemorate the birth anniversary of B R Ambedkar, the man who is believed to be the architect of the Indian Constitution.
The government recognises the day as a public holiday with banks, government offices, schools, colleges, post offices and educational institutions remaining closed on this day. So, the question remains whether it will be a holiday for the Indian equity markets?
NSE, BSE to remain closed on Ambedkar Jayanti?
According to the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), trading in equities, derivatives and SLB segments will remain suspended for the day.
The Multi Commodity Exchange (MCX) will also be closed in the morning session (9:00 AM – 5:00 PM) but will be open for the evening session (5:00 PM – 11:55 PM).
Following Ambedkar Jayanti, several other market holidays are scheduled throughout the year.
Later in the year, additional holidays include Muharram (June 26), Ganesh Chaturthi (September 14), Gandhi Jayanti (October 2), Dussehra (October 20), Diwali Balipratipada (November 10), Guru Nanak Jayanti (November 24), and Christmas (December 25).
These holidays are spread across the calendar and reflect India’s diverse cultural and religious observances.
Domestic equities came under pressure after a short blip last week that helped Nifty 50 scale back to the 24,000 mark. On Monday, Nifty 50 fell 2.05 per cent to hit an intraday low of 23,555. Similarly, Sensex fell 2.16 per cent, touching an intraday low of 75,868.
The weakness in the benchmarks came after a two-day talk held between the US and Iran in Islamabad failed. Both countries did not reach an agreement and shortly after the talks concluded, the U.S. President Donald Trump said that the US Navy will “immediately” begin the blockade of the Strait of Hormuz and asserted that “No one paying illegal toll will have safe passage”, he also added that the U.S. Navy will soon begin destroying the mines laid in the Strait by Iran. Trump also called Iran’s actions “world extortion.”
The sharp spike in crude oil prices is adding to the market’s stress. Oil has jumped amid growing fears that the ongoing conflict could disrupt global supply chains and further strain availability. For India, which depends heavily on imported crude, the surge poses clear risks, from a higher import bill to renewed upward pressure on inflation.
Notably, Oil prices traded higher in early deals, supported by fresh commentary by US President Donald Trump on West Asia tension. Crude oil was up nearly 7 per cent at USD 102 a barrel on Monday.
Earlier, Iran warned that oil prices could surge to USD 200 per barrel if attacks continue and exports get disrupted. Iran signaled through intermediaries that it would only consider a ceasefire if the US guarantees that neither it nor Israel would carry out future strikes, an assurance Washington is unlikely to provide. Adding to market anxiety, the strategically vital Strait of Hormuz remains a pain point.
On March 9, Brent crude surged over 27 per cent to trade at a multi-year high of USD 119 a barrel amid escalating Middle East tensions. The prices later dropped significantly after the announcement of coordinated oil reserve release by major G7 economies. The oil price, although at a multi-year high, was still lower than its all-time high of USD 147 per barrel seen in July, 2008.
The recent hike was also lower than the USD 130 per barrel price that was hit in 2022 during the Russia-Ukraine crisis.
