Stock Market Holidays March 2023: There are two holidays in the month of March apart from weekends. The market will remain shut for Holi on Tuesday, March 7 and Ram Navami on Thursday, March 30, 2023. The currency derivatives segment, NDS-RST, Tri-Party Repo, Commodity Derivatives Segment and Electronic Gold Receipts (EGR) Segment will also remain shut, according to the list of stock market holidays 2023 available on the official BSE website. Trading in the multi-commodity exchange (MCX) and the National Commodity & Derivatives Exchange Ltd (NCDEX) will also remain suspended on March 7 and March 30 for the morning session. In total, the domestic stock market will stay closed for 10 days including Saturdays and Sundays in March 2023.
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The domestic equity indices extended gains on Monday. “The trend reversal in Nifty led by banking and metals has more legs to go. When the market gets oversold, as happened in recent weeks, the bounce back triggered by short-covering can be sharp. This week may throw up some important triggers relating to US non-farm payroll data and takeaways from the Fed chief Powell’s views on the US economic outlook. Since the trends from the mother market US are crucial for global equity markets, investors have to watch out for these data. The rally in banking stocks may gather momentum taking cues from the GQG investment in four Adani stocks. The oversold IT stocks also have the potential to stage a mild rally. Oil & Gas and capital goods segments appear strong” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
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On the first day of the week, ie, Monday, BSE Sensex climbed 623.17 pts or 1.04% to 60,432.14 and NSE Nifty 50 advanced 173.75 pts or 0.99% to 17,768.10. In the sectoral indices, Bank Nifty rose 0.38%, Nifty IT was up 1.67%, Nifty Pharma climbed 0.53% and Nifty Realty dropped 0.29%.
