Gandhi Jayanti Market Holiday 2024: Will NSE and BSE remain shut throughout the trading session?

Gandhi Jayanti is celebrated on October 2 every year to mark Mahatma Gandhi's birth anniversary. The day is also celebrated as the International Day of Non-Violence. 

After Gandhi Jayanti, the stock market will also remain closed on November 1 (Friday) for Diwali Laxmi Pujan, November 15 (Friday), for Prakash Gurpurb Sri Guru Nanak Dev, and December 25 (Wednesday), for Christmas. 

Global trends, trading activity of foreign investors, and domestic macroeconomic data announcements would dictate terms in the equity market in the coming days. 

On Tuesday, benchmark indices SENSEX and NIFTY edged lower, extending the losing run to the third day amid profit-taking in oil & gas and select FMCG shares.

The BSE SENSEX dipped 33.49 points, or 0.04%, to settle at 84,266.29. During the day, it hit a high of 84,648.40 and a low of 84,098.94.

The NSE NIFTY closed marginally lower by 13.95 points, or 0.05%, to 25,796.90.

India's manufacturing sector growth fell to an eight-month low in September amid a softer increase in factory production, sales, and new export orders, a monthly survey said on Tuesday.

The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in August to 56.5 in September, registering the weakest pace of growth since January.

Last week, the BSE benchmark, SENSEX, jumped 1,027.54 points, or 1.21%, while the Nifty surged 388 points, or 1.50%. The BSE SENSEX hit a new record intra-day peak of 85,978.25 on Friday. The NSE NIFTY also hit an all-time intra-day high of 26,277.35 on that day.

Foreign investors, as per reports, poured ₹57,359 crore into Indian equities in September, making it the highest inflow in nine months, mainly driven by a rate cut by the US Federal Reserve.

With this infusion, foreign portfolio investors' (FPIs) investment in equities has surpassed the ₹1 lakh crore mark in 2024, data with the depositories showed.

Going ahead, FPI inflows are likely to remain robust, driven by global interest rate easing and India's strong fundamentals.

According to the data, FPIs made a net investment of ₹57,359 crore in equities until September 27.

This was the highest net inflow since December 2023, when FPIs had invested ₹66,135 crore in equities.

Since June, FPIs have consistently bought equities after withdrawing ₹34,252 crore in April-May.

Overall, FPIs have been net buyers in 2024, except for January, April, and May.