MUMBAI - Indian stock exchanges, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), observed a holiday today in honor of Guru Nanak Jayanti, leading to a pause in trading activities across all segments. This cessation of trade comes after a slight downturn in the market on Friday, where the BSE Sensex closed at 65,970.04, down by 47.77 points, and the Nifty fell by 7.30 points to end at 19,794.70.
The previous week's trading session saw mixed results with certain sectors experiencing gains while others faced declines. Notably:
- The IT and FMCG sectors saw losses which contributed to the overall dip in the market.
- Conversely, the metals and pharma sectors posted gains, balancing out some of the negative impact.
- The broader market indices showed resilience with the Nifty Midcap Index recording its fourth consecutive weekly gain at 0.6%.
- The Nifty Bank index also rose by half a percent, indicating strength in the banking sector.
- The realty, metal, and pharma industries led sectoral gains during this period.
Investor attention has been drawn to high-risk penny stocks with notable investors like Vijay Kedia, Ashish Kacholia, Mukul Agrawal, Dilipkumar Lakhi, and Dolly Khanna holding substantial stakes in various companies. These investments range significantly in value from ₹393 crore (INR100 crore = approx. USD12 million) to ₹4,441 crore.
Trading is expected to resume normally on Tuesday following the holiday break. Looking ahead, market participants are also reminded that the next scheduled closure of the BSE and NSE will be on December 25 for Christmas celebrations.
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