Apart from Holi, there’s one more holiday in the month of March, ie, Ram Navami which is falling on Thursday, March 30, excluding weekends.
Stock Market holiday today: Nifty and Sensex will remain closed on Tuesday, March 7 for Holi celebrations. Traders were confused regarding the holiday as the festival of colours will be celebrated on Wednesday, March 8 in Delhi and other parts of the country. Apart from Holi, there’s one more holiday in the month of March, ie, Ram Navami which is falling on Thursday, March 30, excluding weekends. 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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Holi is celebrated across the nation as it is considered the victory of good over evil. The festival is also known as Holika Dahan. According to the scriptures, Prahalad refused to accept the orders of his father Hiranyakashyapu and kept praying for Lord Vishnu, Hiranyakashyapu with help of her sister Hollika planned of killing Prahalad. Holika took Prahalad in her lap and sat in a bonfire as she had immunity to fire. Even after that, she burned alive while Prahlad was unaffected. Hence, ‘Holika Dahan’ is celebrated a day before Holi.
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Meanwhile, domestic benchmark equity indices ended Monday’s session broadly in green with the NSE Nifty 50 rising 117.10 pts or 0.67% to 17,711.45 and BSE Sensex surging 415.49 pts or 0.69% to 60,224.46. In the sectoral indices, Bank Nifty rose 0.24%, Nifty Auto climbed 0.96%, and Nifty IT surged 1.22% while Nifty PSU Bank fell 0.23%, Nifty Realty dipped 0.52%.
