India's domestic stock markets will be closed on Tuesday in observance of the Dussehra festival, with normal trading resuming on Wednesday, October 21.
Market Closure and Future Plans
The National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE) have included the Dussehra festival in their trading holiday calendar for 2026. On this day, trading in the equity, equity derivatives, currency, and Securities Lending and Borrowing (SLB) segments will be suspended.
Market Impact and Current Situation
Meanwhile, trading on the Multi Commodity Exchange of India (MCX) will be suspended during the morning session and will resume in the afternoon session to allow for continued commodity trading.
This closure follows a weak session on Monday when domestic markets faced selling pressure, and shares of private banks declined due to disappointing corporate results and rising crude oil prices. The BSE Sensex fell by 876.37 points, or 1.17%, to 73,852.90, while the Nifty 50 dropped by 257.20 points, or 1.11%, to 22,888.95.
Selling has spread across all sectors, with only the Nifty PSU Bank index ending in positive territory, showing a gain of 2.41%. In contrast, the Nifty IT index fell by 1.56% and the Nifty FMCG index declined by 1.40%.
Vikram Kasat, head of advisory and trading at PL Capital, stated that weakness in private banks, disappointing results relative to expectations, and cautious global sentiment have intensified selling and profit booking. He added that markets may remain volatile as investors monitor corporate results, crude oil prices, and currency stability.
Oil prices remain a significant factor for market sentiment. At the time of writing, Brent crude oil prices have reached $109.66 per barrel, reflecting a 0.10% increase and bringing concerns about imported inflation and corporate costs to the forefront.
Investors are expected to keep an eye on corporate results, movements in crude oil prices, and signs of the global market as domestic stock trading resumes.
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