Stock market holiday today on October 2: BSE, NSE to remain closed for Gandhi Jayanti

Indian stock markets will remain closed today, October 2 on account of Mahatma Gandhi Jayanti, with trading suspended across major segments on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Trading in equities, equity derivatives, securities lending and borrowing (SLBs), currency derivatives, and interest rate derivatives will remain shut for the day on both exchanges.

The commodity derivatives segment will remain closed.

Market activity on the NSE and BSE will resume on October 5 (Monday).

In a highly volatile session on October 1, Indian benchmark indices ended lower, extending their losing streak for the fourth consecutive session, with the Nifty closing around 22,400.

At close, the Sensex was down 570.59 points or 0.79 percent at 71,909.70, and the Nifty was down 198.50 points or 0.88 percent at 22,421.95.

Broader indices underperformed the benchmark indices, with the Nifty Midcap index falling more than 1 percent and Nifty Smallcap index losing nearly 1 percent.

For the week, BSE Sensex shed 2.7% and Nifty fell 3%, extended the losing streak for the 8 straight weeks for the first time in 25 years.

Biggest Nifty losers included Bajaj Auto, Maruti Suzuki, M&M, Adani Enterprises, Adani Ports, while gainers were HDFC Life, SBI Life Insurance, HDFC Bank, Infosys and TCS.

Among sectoral indices, Information Technology index added 2 percent and Telecom index gained 0.5 percent. On the other hand, Auto, Media, FMCG, Infra, Metal, Consumer Durable and Realty down 2-3 percent, while Energy, Pharma, PSU Bank, Oil & Gas down more than 1 percent each.

"Markets came under renewed and sharp selling pressure on Thursday, extending the corrective trend. After a weak opening, the benchmark indices remained range-bound during the initial hours before a sharp bout of selling emerged in the afternoon. The Nifty slipped below its critical support zone of 22,400–22,600, while the Sensex breached its April 2026 low during the session. Both indices eventually settled at 22,421.95 and 71,909.70, respectively," said Ajit Mishra, SVP – research, Religare Broking.

"On the sectoral front, selling was broad-based, with auto stocks witnessing significant pressure post September sales numbers, followed by metal, realty, FMCG, while IT ended in the green. The broader indices too witnessed a sharp cut, losing nearly a percent each," he added.

"Persistent foreign selling and elevated US treasury yields continued to weigh on market sentiment, keeping the broader tone risk-averse. The renewed rise in crude oil prices, along with weakness in the Indian rupee amid sustained foreign selling, added to the pressure," said Mishra.

"From a technical perspective, the Nifty decisively slipped below its major long-term support levels—the 200-week SMA and EMA around 22,600 and 22,400, respectively—and moved towards the 22,180 mark, its April 2026 low, reinforcing the prevailing bearish setup."

"The 22,000–22,200 zone is likely to act as the next critical support zone while 22,500–22,600 is likely to turn into the immediate hurdle and 22,800 remains the next major resistance. With the index extending its corrective phase and volatility rising sharply, the near-term setup remains cautious, with stock-specific opportunities likely to emerge selectively," he further added.

On Thursday, Indian rupee ended 50 paise lower at 96.32 per dollar on Thursday compared with the previous close of 95.82.

"The Indian rupee weakened in tandem with most Asian currencies as the US dollar extended its rise, supported by higher US bond yields and a rebound in crude oil prices," said Dilip Parmar, Research Analyst, HDFC Securities .

"Risk averse sentiment, persistent foreign fund outflows, dollar short covering by the market participants and the central bank’s sizeable forward short dollar position continued to weigh on the currency."

"In the near term, spot USD/INR is expected to trend higher, with 96.67 serving as the immediate resistance, while downside support has now shifted to 95.75," he added.