Indian stock market closed today on Eid al-Adha celebration, trading to resume from Tuesday

The stock market of India will remain closed on Monday on the occasion of Bakrid (Eid al-Adha) — a festival celebrated amongst Muslims worldwide in the remembrance of the sacrifice of Prophet Ibrahim. The trading at Indian indices will resume on Tuesday.

The Indian indices closed higher on Friday on fixed yuan and strong Chinese data. The BSE Sensex closed 254 points up at 37, 581 while the 50-stock Nifty closed 77 points higher at 11,109 levels. The Bank Nifty index edged 321 points higher and closed at 28,431 levels.

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Speaking on the current market outlook for the coming week Simi Bhaumik, a SEBI registered technical equity analyst said, "Currently, the Indian stock market is witnessing short-covering and Nifty has strong resistance at 11,250 levels while the Bank Nifty is facing resistance at 28,700 to 28,750 levels." Bhaumik said that Auto, private banks and FMCG stocks are expected to outperform other sector stocks. Asked about some specific stocks that share market investors can bet upon in coming week Simi Bhaumik said, "Britannia, Hindustan Uni Liver, Dabur and McDowell are some stocks that would give upside movement in the coming week at Dalal Street."

Eid al-Adha is celebrated every year on the 10th of Dhul Hijjah. Muslims slaughter a lamb, goat, sheep or a camel to honour the sacrifice of Ibrahim.