Indian stock markets are taking a break on Tuesday, October 20, for Dussehra, a day after a sharp sell-off dragged the Sensex and Nifty lower.
Investors will have to wait another day to react to market developments as the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) remain closed today, October 20, on account of Dussehra. The scheduled holiday comes at a time when domestic equities are facing pressure from weak global cues, rising crude oil prices and selling in heavyweight banking and IT stocks.
Trading will remain suspended throughout the day in the equity, equity derivatives, securities lending and borrowing (SLB), currency derivatives and interest rate derivatives segments on both exchanges.
However, commodity derivatives trading will follow a different schedule. The morning session, from 9 am to 5 pm, will remain closed, while trading will resume in the evening session from 5 pm to 11.30 pm or 11.55 pm, depending on the contract.
Normal trading in equities and derivatives on the NSE and BSE will resume on Wednesday, October 21.
The market holiday follows a difficult start to the week for investors. On Monday, October 19, the BSE Sensex plunged 876.37 points, or 1.17%, to close at 73,852.90. The NSE Nifty 50 declined 257.20 points, or 1.11%, to settle at 22,888.95.
Selling pressure was particularly pronounced in private-sector banking and IT stocks. Disappointing earnings from some major lenders, elevated crude oil prices and uncertainty in global markets dampened investor sentiment.
The market will now reopen on Wednesday, with investors likely to focus on global market movements, crude oil prices, foreign institutional investor activity and upcoming corporate earnings.