The multi-commodity exchange will also be closed for both morning and evening sessions.
In the entire calendar year, the markets have 15 annual holidays in 2023, two more than last year.
Domestic Indices closed the September month on a high with Sensex rising 320 points and Nifty closed above the 19,600 mark on Friday.
However, the rebound failed to lift markets into positive territory during the last week as they ended in red for the second straight week.
Analysts say the market is facing stiff resistance at higher levels due to insipid liquidity and a lack of triggers to overcome the bears.
Hence, the volatility is expected to remain elevated in the short term, given the upside risk of domestic inflation on account of higher crude prices.In the current week, investors will keep a close eye on the RBI’s monetary policy committee (MPC) meeting, which is scheduled for October 4–6. Experts expect the RBI to maintain its pause on interest rate hikes at this meeting.
Market participants will also track movement of the rupee against the dollar and crude oil prices. Investments by foreign institutional investors (FIIs) and domestic institutional investors (DIIs) may also shape the market direction.
Auto stocks will remain in focus in the current week as companies will announce monthly sales numbers.
“Nifty is witnessing a correction where 19500 is an immediate demand zone. The potential target on the downside is the 19300–19250 zone. On the upside, 19800 is an immediate and critical hurdle; above this, we can expect bulls to get a grip for a move towards the 20000–20200 zone,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart.
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