In August 2024, the Indian equity markets will witness trading coming to a halt for a total of ten days. This includes weekends and the national holiday for Independence Day, impacting both the BSE and the NSE.
The scheduled holidays are as follows –
- August 3, 2024: Saturday (Weekend)
- August 4, 2024: Sunday (Weekend)
- August 10, 2024: Saturday (Weekend)
- August 11, 2024: Sunday (Weekend)
- August 15, 2024: Thursday (Independence Day – National Holiday)
- August 17, 2024: Saturday (Weekend)
- August 18, 2024: Sunday (Weekend)
- August 24, 2024: Saturday (Weekend)
- August 25, 2024: Sunday (Weekend)
- August 31, 2024: Saturday (Weekend)
Investors and traders are advised to plan their activities around these dates to avoid any disruptions in their trading schedules.
Last Friday’s trading session saw a robust performance from the Indian stock markets. The BSE Sensex closed 1.62% higher at 81,332.72 points, up from 80,039.80 points on the previous market day. Similarly, the NSE Nifty 50 index ended 1.76% higher at 24,834.85 points, compared to 24,406.10 points the day before. Among the top performers in the Nifty indices were the Nifty Midcap 50 and Nifty Midcap Select, which rose by 2.24% and 2.17%, respectively.
In addition to the market holidays, the upcoming business week from July 29 to August 2 is anticipated to be eventful. The highly awaited IPOs from Ola Electric and Akums Drug are set to hit the market, along with two other potential listings. These IPOs are expected to generate significant interest among investors and could influence market movements.
In corporate news, UltraTech Cements received approval to acquire a 32.72% stake in India Cements. As per a company filing on the BSE website, UltraTech will pay ₹3,954 crore at ₹390 per share to acquire the stake from the promoters and their associates. This acquisition is part of UltraTech’s strategic expansion plans and is likely to have a considerable impact on the cement industry.
The market activity in the first week of August will be closely monitored, especially with the significant IPOs and the strategic acquisition by UltraTech. Investors will need to navigate these developments alongside the scheduled market holidays, which will temporarily halt trading activities.
