Because of the Maharashtra assembly elections, the Indian stock market was closed on Wednesday. After seeing a massive jump on Tuesday amid new tensions between Russia and Ukraine, it surrendered remarkable gains.
Equity, derivatives, and securities lending and borrowing (SLB) will all continue to be closed. In addition, the capital markets, futures, and option divisions will be open on public holidays.
Prior to this, the market was closed on November 1st for Lakshmi Puja and November 15th for Guru Nanak Jayanti.
Amid purchasing in the auto, real estate, and media sectors as a result of new tensions between Russia and Ukraine, the Indian equities markets closed the turbulent session on November 19 higher, breaking a seven-day losing run. The Nifty was trading at 23,500.
Due to significant profit booking in the last hour of trade, the Sensex ended the day up 239 points. During intraday trading, the Sensex gained more than 1,100 points.
When news broke that the Ukrainian Armed Forces had launched their first ATACMS missile strike on the Russian border area, the market saw a significant turnaround, and the Kremlin issued a grave warning.
In the meanwhile, the media industry saw significant market purchasing. Nifty Media reported a 2.45% increase.
There was a lot of purchasing in the media industry. Nifty Media reported a 2.45% increase.
The Nifty finished at 23,518.50, up 64.70 points, or 0.28 percent, while the Sensex closed at 77,578.38, up 239.37 points, or 0.31 percent.
According to experts, the indicator has technically formed a doji candle on a daily basis, signifying uncertainty.
The doji candle’s peak is getting close to the 23,780 mark. Therefore, 23,780-23,800 will act as the index’s key resistance. The 50-Weekly Simple Moving Average (WSMA), which is situated close to 23,300 on the downside, will provide the index short-term support.
According to analysts, the short-term trend is downward until the index stays below 23,800.
On November 19, domestic institutional investors purchased stocks worth Rs 2,783 crore, while foreign institutional investors (FIIs) sold stocks worth Rs 3,411 crore.
