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Is stock market closed on August 27 for Ganesh Chaturthi?
The trading session on Tuesday ended with Nifty 50 at the NSE dropping 255.70 points, or 1.02%, to 24,712.05, while the BSE Sensex was down 849.37 points
Stock markets remained shut on Wednesday, August 27, on the occasion of Ganesh Chaturthi which is a state holiday in Maharashtra where the both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) are headquartered.
The trading session on Tuesday ended with Nifty 50 at the NSE dropping 255.70 points, or 1.02 per cent, to 24,712.05, while the BSE Sensex was down 849.37 points, or 1.04 per cent, to 80,786.54, according to figures in a news agency ANI report.
Banks also remained shut in some parts of India on Wednesday, August 27, to mark the first day Ganesh Chaturthi, according to the region-wise holiday calendar of the Reserve Bank of India (RBI).
Tuesday's stock market slump was attributed to widespread selling pressure after the Donald Trump-led US administration issued a draft notice on the implementation of an additional 25 per cent tariff on Indian products, which kicked in on Wednesday.
Realty, pharma, banking and metal stocks were the worst hit, while FMCG shares tried to withstand with marginal gains.
Sun Pharmaceutical was the biggest laggard among Sensex firms, declining by 3.40 per cent following reports that Donald Trump had suggested a cut in drug prices of between 1,400 per cent and 1,500 per cent.
