Investors looking to trade on Wednesday may be wondering why stock markets are not functioning today. But the stock exchanges, including the Bombay Stock Exchange and the National Stock Exchange of India, are closed on May 28 on account of Bakri Id.
Trading across major segments has been suspended for the day. This includes equities, equity derivatives, securities lending and borrowing, currency derivatives and interest rate derivatives.
Market activity on both exchanges will resume on Friday, May 29.
The commodity derivatives segment, however, will only remain partially closed. Morning trading in commodities will stay shut from 9 am to 5 pm, while the evening session will reopen from 5 pm and continue till 11:30 pm or 11:55 pm depending on the commodity category.
The Bakri Id holiday is one of several stock market holidays scheduled for 2026.
After today, the next trading holiday will fall on June 26 for Muharram. Markets will also remain closed later this year for Ganesh Chaturthi on September 14, Mahatma Gandhi Jayanti on October 2, Dussehra on October 20, Diwali-Balipratipada on November 10, Prakash Gurpurb Sri Guru Nanak Dev on November 24 and Christmas on December 25.
The holiday comes after a volatile trading session on Wednesday where benchmark indices ended marginally lower amid uncertainty surrounding the US-Iran situation despite softer crude oil prices.
The Sensex closed down 141.90 points or 0.19% at 75,867.80, while the Nifty slipped 6.55 points or 0.03% to settle at 23,907.15.
Hitesh Tailor, Technical Research Analyst at Choice Equity Broking Private Limited, said that the market failed to sustain at higher levels and gradually witnessed selling pressure through the latter half of the session.
Sector-wise, Power, Capital Goods, Utilities, Metal, Industrials, Auto, Consumer Discretionary, Telecommunication, and Consumer Durables witnessed strong buying interest and outperformed during the session.
On the other hand, Top 10 Banks, Private Banks, Financial Services, BANKEX, Information Technology, Focused IT, Oil & Gas, FMCG, and Energy sectors witnessed mild weakness and profit booking. Banking and IT-related indices remained under pressure, while broader market participation stayed selective.
“Technically, Sensex continued to face resistance near the 76,200–76,400 zone, where profit booking emerged once again. The overall market bias remains cautiously positive as the index continues to trade above key support levels despite intermittent profit booking near higher zones,” said Tailor.
“However, lack of sustained momentum near resistance levels indicates that traders may remain selective in the near term. As long as Sensex sustains above the 75,000–75,200 support zone, the broader undertone may remain stable with stock-specific trading opportunities,” he added.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
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