Stock Market Closed For General Elections: BSE And NSE Remain Shut **By Prashun Talukdar** **Updated: May 20, 2024, 8:06 AM IST** Today, The Indian Stock Markets, Both BSE And NSE, Are Observing A Closure Due To The Ongoing General Elections (Lok Sabha). As Per The BSE Website, All Trading Segments, Including Equity, Equity Derivatives, SLB (Security Lending And Borrowing), Currency Derivatives, Commodity Derivatives, And Electronic Gold Receipts, Are Suspended For The Day. #### Recap Of Previous Session During The Special Trading Session Held On Saturday, The NSE Nifty Concluded 36 Points Higher, Marking A 0.16% Increase At 22,502. Similarly, The BSE Sensex Climbed By 89 Points, Or 0.12%, Settling At 74,006. Notably, The Markets Had Operated On May 18 For This Special Session. The Mid- And Small-cap Stocks Displayed Positive Performance, With The Nifty Midcap 100 Rising By 0.51% And The Nifty Smallcap 100 By 0.82%. Meanwhile, The India VIX, Representing Market Volatility, Surged By 3.67% To 20.53. All 16 Sectoral Indices On The NSE Ended In The Green, With Significant Gains Observed In Nifty Media (1.24%), Nifty Consumer Durables (0.48%), Nifty Oil & Gas (0.47%), And Nifty Realty (0.78%). On The BSE, Prominent Gainers Included Nestle India, L&T, TCS, Power Grid, Tata Motors, SBI, Airtel, HUL, And HCL Tech, With Gains Reaching Up To 2.33%. Out Of The 3,613 Stocks Traded On The BSE, 2,415 Concluded With Gains, 1,073 Saw A Decline, And 125 Remained Unchanged. The Stock Markets Are Scheduled To Resume Operations On Tuesday, May 21, 2024. #### Nifty Outlook Rupak De, Senior Technical Analyst At LKP Securities, Stated, "Nifty Maintains Its Position Within The Channel, Securing A Close Above 22,500 After Several Days. However, The Presence Of A Small-bodied Candle On Daily Charts Signals Uncertainty Regarding Future Price Movements. Moreover, Significant Activity In Both 'CALL' And 'PUT' Options At The 22,500 Mark Suggests A Pivotal Moment. Traders Should Exercise Caution During The Initial Hour To Validate Any Directional Shifts. Support Levels Are Evident At 22,400, While A Sustained Uptrend Could Propel The Index Towards 22,600 And Beyond In The Short Term

Today, the Indian stock market, both BSE and NSE, are observing a closure due to the ongoing General Elections (Lok Sabha). As per the BSE website, all trading segments, including equity, equity derivatives, SLB (Security Lending and Borrowing), currency derivatives, commodity derivatives, and electronic gold receipts, are suspended for the day.

Recap of Previous Session

During the special trading session held on Saturday, the NSE Nifty concluded 36 points higher, marking a 0.16% increase at 22,502. Similarly, the BSE Sensex climbed by 89 points, or 0.12%, settling at 74,006. Notably, the markets had operated on May 18 for this special session.

The mid- and small-cap stocks displayed positive performance, with the Nifty Midcap 100 rising by 0.51% and the Nifty Smallcap 100 by 0.82%. Meanwhile, the India VIX, representing market volatility, surged by 3.67% to 20.53.

All 16 sectoral indices on the NSE ended in the green, with significant gains observed in Nifty Media (1.24%), Nifty Consumer Durables (0.48%), Nifty Oil & Gas (0.47%), and Nifty Realty (0.78%).

On the BSE, prominent gainers included Nestle India, L&T, TCS, Power Grid, Tata Motors, SBI, Airtel, HUL, and HCL Tech, with gains reaching up to 2.33%.

Out of the 3,613 stocks traded on the BSE, 2,415 concluded with gains, 1,073 saw a decline, and 125 remained unchanged.

The stock markets are scheduled to resume operations on Tuesday, May 21, 2024.

Nifty Outlook

Rupak De, Senior Technical Analyst at LKP Securities, stated, “Nifty maintains its position within the channel, securing a close above 22,500 after several days. However, the presence of a small-bodied candle on daily charts signals uncertainty regarding future price movements. Moreover, significant activity in both ‘CALL’ and ‘PUT’ options at the 22,500 mark suggests a pivotal moment. Traders should exercise caution during the initial hour to validate any directional shifts. Support levels are evident at 22,400, while a sustained uptrend could propel the index towards 22,600 and beyond in the short term.”