Indian stock markets have enjoyed a strong festive rally over the past week, with benchmark indices posting substantial gains and boosting investors' wealth. The Sensex rose by 6,569 points during the previous week, while the Nifty advanced nearly 9%. As a result, the combined market capitalisation of companies listed on the BSE crossed Rs 500 lakh crore.
However, investors will have to wait an additional day before trading resumes. The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will remain shut on Tuesday, November 10, due to the Diwali-Balipratipada holiday.
The break follows Monday's session, when the Sensex and Nifty recovered from early declines to finish in positive territory. The Nifty closed at 25,044.65, up 58.25 points or 0.23%, and managed to stay above the important 25,000 level.
The benchmark indices had briefly interrupted their upward momentum during Sunday's special Muhurat Trading session, recording losses for the first time in nine years. This ended their six-session winning streak.
WHY IS THE STOCK MARKET CLOSED TODAY?
Trading on the NSE and BSE has been suspended on November 10 because of Diwali-Balipratipada, which is listed as a market holiday in the 2026 trading calendar.
Balipratipada, observed on the fourth day of Diwali in several regions, commemorates the symbolic return of the Asura king Bali to earth. The occasion also marks the start of the lunar fortnight.
Although equity trading will remain closed, commodity market operations will follow a separate timetable.
The Multi-Commodity Exchange of India (MCX) will remain shut during its morning trading session, between 9 am and 5 pm, but will reopen for the evening session from 5 pm to 11.30 pm.
The National Commodity and Derivatives Exchange (NCDEX), in contrast, will remain closed for the entire day.
HOW MANY STOCK MARKET HOLIDAYS ARE LEFT IN 2026?
Following the November 10 closure, 14 of the 16 holidays scheduled for the stock market in 2026 will have been completed. Two more trading holidays remain for investors to consider before the year concludes.
The remaining dates are:
November 24, 2026: Prakash Gurpurb Sri Guru Nanak Dev
December 25, 2026: Christmas
Regular equity trading will not take place on either date.
WHAT SHOULD INVESTORS EXPECT WHEN MARKETS REOPEN?
The overall market trend continues to look positive, but technical indicators suggest that some consolidation could follow the recent sharp gains.
Sachin Gupta, VP – Research, Technical Research, at Choice Broking Private Limited, said the Nifty's ability to remain above 25,000 reflects underlying strength in the market.
The index began Monday's session nearly 90 points higher at 25,076.40 before trading within a limited range. It touched a low of 24,838.75 and a high of 25,084.05, eventually settling at 25,044.65, gaining 58.25 points or 0.23%.
Gupta noted that the index's daily candle had a long lower shadow, indicating buying activity at lower levels. However, its daily Relative Strength Index (RSI) was at 77.88, signalling that the market had entered overbought territory.
He identified immediate support for the Nifty at 24,850–24,900 and resistance at 25,150–25,200.
According to Gupta, a sustained rise above the 25,150–25,200 range could lead to additional gains. However, the elevated RSI also increases the possibility of consolidation or profit booking after the recent rally.
Among sectors, PSU banks, private banks, pharmaceuticals, healthcare and realty stocks performed relatively well. Auto and financial services shares also ended on a positive note.
IT, cement, metal and FMCG stocks, meanwhile, faced selling pressure, restricting gains across the broader market.
Gupta also highlighted trends in the derivatives market. Put writing around the 25,000 level indicates support near current prices, while call writing at 25,100 and 25,200 points suggests resistance.
Bank Nifty performed better than the broader market on Monday, rising 890.60 points or 1.51% to finish at 59,741.25. The index formed a strong bullish candle after moving above the 59,600 mark during the second half of the session.
Its immediate support levels are 59,300–59,400, while resistance is placed at 60,100–60,200.
NIFTY COULD MOVE TOWARDS 25,400, 25,800
Pabitro Mukherjee, Deputy Vice President-Research at Bajaj Broking, said the Nifty was consolidating around 25,000 after climbing nearly 11% over the previous two weeks.
He pointed out that the index had recovered its entire nine-week decline, during which it fell from 24,774 to 22,179, in just five weeks. In his view, the quicker recovery reflects market strength and creates scope for further gains in the coming weeks.
Mukherjee said the rapid recovery from the previous major decline, achieved in almost half the time, indicates strength and could take the index towards 25,400 and 25,800.
For the immediate trading session, he placed resistance at 25,250 and identified 24,775–24,700 as the support range, which coincides with the previous week's breakout zone.
However, he warned that the Nifty had gained over 2,600 points in the past 11 trading sessions, making a period of consolidation possible.
He added that the index's short-term support had shifted upwards to 24,000–24,300. This range also aligns with the 200-day Exponential Moving Average (EMA) and an earlier gap area.
Mukherjee said the broader market outlook should remain positive as long as the index stays above this range. He also suggested that investors could consider market declines as potential buying opportunities.
WHAT ABOUT THE US STOCK MARKET?
While Indian equity markets will remain closed on Tuesday, trading in the US is scheduled to resume later in the day.
The Nasdaq will reopen following gains in the previous session. Movements in American technology stocks could be closely watched by Indian investors, particularly because global market trends often influence domestic IT and technology shares.
Investors will also monitor international market signals, foreign institutional investor activity, crude oil prices and currency movements when Indian markets reopen.
For now, the domestic market outlook remains encouraging, backed by the recent rally and buying interest in banking and healthcare shares. However, elevated technical indicators and the possibility of profit booking mean that the Nifty's ability to maintain key support levels will play an important role in shaping its next move.
