The stock market is closed on festivals and the weekends. Both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will be closed for nine days, including the weekends in the month of July. Here is a list of holidays for July, investors can make their decisions accordingly.
List of stock market holidays:
July 6, 2024: Saturday, Weekend
July 7, 2024: Sunday, Weekend
July 13, 2024: Saturday, Weekend
July 14, 2024: Sunday, Weekend
July 17, 2024: Wednesday, Moharram
July 20, 2024: Saturday, Weekend
July 21, 2024: Sunday, Weekend
July 27, 2024: Saturday, Weekend
July 28, 2024: Sunday, Weekend
The Bombay Stock Exchange (BSE) closed at Rs79,032.73, a dip of 0.29% on the last trading day of June. The National Stock Exchange (NSE) closed at Rs24,010.60, a fall of 0.14% on the last trading day of June.
“The government’s continuity following the election results guarantees ongoing reforms. This has led to an improved GDP growth forecast, attracting Foreign Portfolio Investment (FPI) buying. However, the FPI buying has been focused on a few specific stocks rather than being widespread across the market or sectors. This is because Indian equities are still considered overvalued by FPIs,” Vipul Bhowar, Director, Listed Investments, Waterfield Advisors said on the market performance.
“FPIs are favouring the financial, auto, capital goods, real estate, and select consumer sectors. It is expected that FPIs will make selective investments in specific sectors and stocks instead of broad-based buying across the market.” Bhowar said regarding the outlook for the market.
“While India would continue to be a preferred market for FPI flows, the actual inflows may not be the highest among emerging markets due to intermittent volatility and shifting global investor sentiments. However, the long-term outlook remains positive, providing reassurance about the stability of FPI flows in India,” he added.
On the impact of India’s inclusion in the JPMorgan emerging markets index from June 28, 2024, V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, “India’s inclusion in the JP Morgan Bond Index is certainly positive. The debt inflows for 2024 so far stands at ₹68,674 crore. In the long term this will reduce the cost of borrowing for the government and reduce the cost of capital for corporates. This is positive for the economy and therefore for the equity market.”
