Muharram Holiday observed on July 17 in Indian Stock Markets

The Indian stock markets are closed today in respect of Muharram. July 18 will see trading resume.

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Observing Muharram, Indian stock markets—including BSE and NSE—are closed today, July 17. Thursday, July 18 will be trading day. Signifying the Islamic New Year, muharram is the first month of the Islamic lunar calendar and a major event observed by Muslims all around.

The Indian benchmark indices peaked on July 16, setting records. Rising to a new career high of 80,895.6 points before closing at 80,717, the BSE Sensex gained 52 points, or 0.06%. Rising to a new high of 24,656 before closing at 24,613, the NSE Nifty50 also scored 26 points or 0.11%.

Trading in other Asian markets displayed conflicting results even with the closing. While Hong Kong’s Hang Seng index barely rose by 9 points, the Nikkei 225 index in Japan gained 40 points, suggesting good attitude among Japanese investors. On the other hand, signaling selling pressure, Taiwan’s weighted index dropped by 56 points and China’s Shanghai Composite index dropped by 13 points.

Major companies including Bharti Airtel, Infosys, and ICICI Bank showed increases yesterday trading day in India, which helped to drive the market’s rising momentum. But industries like Nifty Media saw a drop, while Nifty Realty recorded the biggest increase.

Investors are advised that in 2024 there are 14 authorized stock market holidays, including impending closures on August 15 for Independence Day, October 2 for Mahatma Gandhi Jayanti, and other noteworthy anniversaries.