Long weekend alert: Stock market closed on Friday for Guru Nanak Jayanti; trading resumes Monday

Investors can look forward to a long break this week as both the BSE and NSE will be closed on Friday, November 15, 2024, in observance of Guru Nanak Jayanti.

Markets will then remain shut over the weekend and reopen on Monday, November 18, 2024.

Guru Nanak Jayanti celebrates the birth of Guru Nanak Dev, the founder of Sikhism, born in 1469. It's a major public holiday, leading to the closure of Indian stock exchanges.

Trading in equities, derivatives, and securities lending and borrowing (SLB) will remain suspended for the day.

While the equity markets take a breather, the Multi Commodity Exchange (MCX) will partially operate, offering evening trading from 5 PM to 11:30/11:55 PM. The National Commodity & Derivatives Exchange (NCDEX), however, will remain fully closed.

The next trading holiday is Wednesday, November 20, 2024, for the Maharashtra Legislative Assembly elections.

The final market holiday of the year will be on Christmas Day, December 25, 2024.

Market performance recap

The markets entered a correction zone this week, with the Nifty index and broader market indices like Nifty Midcap 100 and Smallcap 100 slumping over 10 per cent from their all-time highs.

Rising inflation, a stronger US dollar, and foreign outflows have contributed to the downward pressure. This marks only the second technical correction since the Covid-19 crash in March 2020.