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

Fresh updates from the financial markets indicate that Indian equity markets will stay 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 stay shut for the day on both exchanges.

The commodity derivatives segment will stay closed.

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

In a highly volatile session on October 1, Indian key market indices ended softer, 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 key market 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 declined 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 further noted 2 percent and Telecom index advanced 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 key market indices remained range-bound during the initial hours before a sharp bout of selling emerged in the afternoon. The Nifty eased below its critical backing 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," stated 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 trimmed, losing nearly a percent each," he further noted.

"Persistent foreign selling and elevated US treasury yields continued to weigh on market sentiment, keeping the broader tone risk-averse. The renewed climb in oil price marks, along with softness in the Indian indian rupee amid sustained foreign selling, further noted to the pressure," stated Mishra.

"From a technical perspective, the Nifty decisively eased below its major long-term backing marks—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 backing zone while 22,500–22,600 is likely to turn into the immediate hurdle and 22,800 stays the next major resistance. With the index extending its corrective phase and volatility rising sharply, the near-term setup stays wary, with stock-specific opportunities likely to emerge selectively," he further further noted.

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

"The Indian indian rupee softened in tandem with most Asian currencies as the US dollar extended its climb, supported by elevated US bond yields and a rebound in oil price marks," stated Dilip Parmar, Research Market observer, HDFC Securities .

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

"In the near term, spot USD/INR is anticipated to trend elevated, with 96.67 serving as the immediate resistance, while downside backing has now shifted to 95.75," he further noted.