The Indian stock markets are closed on Thursday due to municipal corporation elections in Maharashtra. Both the BSE and NSE announced no trading in various segments, including equity and derivatives. This decision aligns with the public holiday declared by the Maharashtra government for smooth elections in 29 municipal corporations, including Mumbai’s BMC.
Trading will resume on Friday after the elections. On the previous day, domestic markets closed lower, with IT and realty sectors facing losses. Geopolitical tensions and uncertainties around the US-India trade deal impacted investor sentiment. The Sensex fell by 0.29%, while the Nifty closed 0.26% lower.
Despite the frontline indices’ decline, broader markets saw positive movements. The Nifty SmallCap 100 index rose by 0.67%, and the Nifty MidCap 100 index increased by 0.29%. However, IT and realty stocks experienced selling pressure, with the Nifty IT index dropping by 1.08% and the Nifty Realty index by 0.92%.
Market sentiment remained cautious due to foreign institutional selling and global uncertainties. Analysts noted a stock-specific trading environment with optimism around support levels and trade talks, tempered by broader macroeconomic concerns.
