According to the BSE calendar, the equity segment, derivative segment, and the SLB segment will be closed on these days.
Further, the multi commodity exchange will also be closed for the morning session and trading will resume at 5 pm on April 4 for the evening session. For April 7, the exchange will be shut completely for trading.
Equity markets ended FY23 on a strong note with nearly 2% jump on Friday in line with firm trends in the global markets and heavy buying in index major Reliance Industries.
While Nifty ended FY23 on a flat note (-0.6%), Nifty midcap 100 closed with gains of 1%. However, Nifty Smallcap 100 succumbed to the global pressure – down 14% in FY23.
“Markets saw a perfect ending to FY23 as charged bulls went berserk on Dalal Street thus propelling both the benchmark indices to close above the psychological mark. The rally was long overdue as fading worries over the recent turmoil in the US and European banking industry prompted investors to latch upon the beaten down stocks. Also, falling US bond yields and the return of FIIs into the local markets in recent sessions have bolstered the market sentiment,” said Amol Athawale, Deputy Vice President – Technical Analyst, Kotak Securities.
Going ahead, the immediate trigger for markets will likely be the RBI policy outcome, due later this week.”In the near term, focus will now remain on RBI’s policy meeting next week, where a 25-bps rate hike is expected in line with the hikes done by major global central banks. Apart from this, markets will also react to monthly Auto sales number data that will be released over the weekend,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
“In FY24, we expect strong earnings growth of around 15% – largely because of improving margins as raw material prices cool-off. This would be further supported by demand revival that had moderated out since Q3FY23. Valuation too has come off substantially from 24x 1-year forward P/E in Oct’21 to 17x currently (v/s 20x long period average), offering moderate margin of safety,” Khemka said.
