Stock Market Holidays February 2023: There is only one holiday in the month of February and that too is falling on the weekend. The market will remain shut for Mahashivratri on Saturday, February 18, 2023. In total, the domestic stock market will stay closed for 8 days on Saturdays and Sundays in February 2023. The currency derivatives segment, NDS-RST, Tri-Party Repo, Commodity Derivatives Segment and Electronic Gold Receipts (EGR) Segment will also remain shut, according to the list of stock market holidays 2023 available on the official BSE website. Trading in the multi-commodity exchange (MCX) and the National Commodity & Derivatives Exchange Ltd (NCDEX) will also remain suspended on February 18 for both morning and evening sessions.
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Markets are anxiously awaiting the budget, which will be announced tomorrow. “The Budget tomorrow and the Fed’s decision on interest rates by evening tomorrow will have a big impact on markets. A positive, as we go into the Budget, is that instead of the usual pre-Budget rally on expectations, this time we had a market correction triggered by the Adani crisis. So, if there are no negative surprises in the Budget and the Fed commentary is not hawkish, there can be a post-Budget rally in the market. The Adani crisis which had impacted market sentiments will be pushed to the back burner if the FPO sails through via institutional investment. There has been an overreaction in banking stocks with Bank Nifty correcting sharply by 6.2% in the last 3 sessions. High-quality banking stocks present a good buying opportunity. Signals from the US indicate that Indian IT will do well in 2023,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
On the first day of the week, i.e, Monday, BSE Sensex rose 169.51 pts or 0.29% closing at 59,500.41 and NSE Nifty 50 advanced 44.60 pts or 0.25% to 17,648.95. In the sectoral indices, Bank Nifty rose 0.10%, Nifty PSU Bank advanced 0.55%, Nifty IT was up 1.10% while Nifty Pharma fell 0.19% and Nifty Metal dropped 0.28%.
