Positive Start for Stock Exchanges as Indices Rise in Early Trading
The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) are closed today, July 17, in observance of Muharram. As a result, trading in derivatives, equities, SLBs, currency derivatives, and interest rate derivatives is also halted.
However, the commodity derivatives segment will be closed only during the morning session from 9 am to 5 pm but will open for the evening session from 5 pm to 11:55 pm. Trading on both the NSE and the BSE will resume on July 18.
On Tuesday, July 16, the Sensex and Nifty reached record high levels due to buying in FMCG, telecom, and select IT shares. The 30-share BSE Sensex closed at a new lifetime high of 80,716.55, while the NSE Nifty settled at an all-time closing high of 24,613, marking the third consecutive day of gains.
This surge in Sensex and Nifty has been ongoing since last Friday, driven by foreign investors turning net buyers in Indian equities. This positive trend is fueled by increasing expectations of a rate cut by the US Federal Reserve by September this year.
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