Stock market holiday: NSE, BSE to remain closed today on account of Ramzan Eid

The Indian stock market will remain closed on Tuesday, May 3, on account of Id-Ul-Fitr (Ramzan Id). There will be no trading on NSE, BSE on Tuesday, however, the Multi Commodity Exchange of India (MCX), which will remain closed in the first half between 9 am and 5 pm, will see resumption of after 5 pm and will close at 11:30/11:55 PM. 

Likewise, the trading will remain closed for National Commodity & Derivatives Exchange (NCDEX) between 9 am and 5PM. The trading window for NCDEX will resume at 5pm and close at 9 pm.  

As per BSE holiday calendar, there are as many as 13 days when the NSE, BSE will see no action due to different holidays. There will be no stock market holiday in July, however, the market will remain shut on August 9 due to Muharram. The market will be closed two more days in August. The NSE, BSE will remain shut on August 15 and August 31 to mark Independence Day and on account of Ganesh Chaturthi, as per BSE Trading Holidays for 2022.  

Earlier, after declining nearly one per cent in the opening trade, the Indian markets were seen paring some losses as benchmarks closed with marginal cuts of around 0.15% on Monday. The broader Nifty closed near 17,100, while the Sensex settled around 57,000-mark on Monday. The recovery was led by banking and metal stocks. The 12-share Nifty Bank added 75 points as the banking index closed near 36,200.  

"The banks led the recovery on expectations of higher credit growth this fiscal and the broader markets despite being a bit sluggish ahead of a trading holiday tomorrow witnessed accumulation in select pockets like standalone refineries and hospitality," he said S Ranganathan, Head of Research at LKP securities. 

In the broader market, Nifty mid cap and small cap indices slipped between 0.5 to 1.3% as India VIX zoomed past 20-markin the closing on Monday.  

Sector-wise, buying interest was seen in banking, metal, media, realty and financial services stocks, while IT, auto and consumer durable stocks dragged the market the most. 

"The recent hawkish turn by Fed has made investors extra cautious ahead of the upcoming Fed meeting triggering high volatility in the market," said Vinod Nair, Head of Research at Geojit Financial Services.