The Bombay Stock Exchange and the National Stock Exchange will be closed on Tuesday due to the Holi festival. Trading activities such as equities, equity derivatives, securities lending, and borrowing will be halted for the day, while commodity derivatives will have a morning closure and an evening session.
Following tensions in West Asia, the Sensex fell by 1.29% to 80,238 points, and the Nifty dropped 1.24% to 24,865 points on Monday. Major indices like Nifty Midcap 100 and Nifty Smallcap 100 also saw declines in line with the benchmark indices.
Sectoral indices mostly traded in the red, except for Nifty metal and pharma which saw slight gains. Auto and consumer durables were among the top losers, while oil and gas, as well as PSU bank sectors, experienced significant declines.
Analysts have identified the immediate support for Nifty at 24,600 points, with resistance expected at 25,000 points. Meanwhile, oil prices surged following reports of the closure of the Strait of Hormuz by Iran.
In global markets, China’s Shanghai index and Shenzhen dipped, while Japan’s Nikkei and Hong Kong’s Hang Seng Index also experienced declines. The US markets, however, closed mostly in the green, with Nasdaq gaining 0.36%, S&P 500 up by 0.04%, and Dow Jones declining by 0.15%.
Foreign institutional investors (FIIs) net sold equities worth Rs 3,296 crore on March 2, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 8,594 crore.
