The Indian stock markets will be closed on Wednesday, February 26, 2025, for Mahashivratri, the revered Hindu festival dedicated to Lord Shiva. This day is significant for many Hindus across the country, who observe it with various rituals and prayers. Trading activities are set to resume on Thursday, February 27, according to the holiday calendar released by the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
On Tuesday, February 25, the day preceding this holy occasion, the BSE Sensex managed to rebound, closing up 147.71 points, settling at 74,602.12. Meanwhile, the Nifty 50 index saw a slight decline, down 5.80 points or 0.03%, finishing at 22,547.55. This mixed performance reflects continued volatility, as there was buying interest from investors but also selling pressure from those risk-averse amid uncertainty.
Market dynamics showed most sectors closing lower, with the Nifty Midcap 100 and Nifty Smallcap 100 indices dropping by 0.62% and 0.44%, respectively. Out of the 19 sectoral indices, 11 closed in red, highlighting the breadth of bearish sentiment. Specifically, the Nifty Auto, FMCG, and Financial Services sectors managed slight gains, increasing by 0.51%, 0.32%, and 0.18%, respectively, which helped buoy the overall index.
Among the prominent stocks, 17 out of the 30 Sensex constituents saw positive movements. Major gainers included companies like Bharti Airtel, Mahindra & Mahindra (M&M), and HDFC Bank. On the flip side, big names such as Reliance Industries (RIL), Tata Consultancy Services (TCS), and Sun Pharma recorded losses, showcasing the uneven nature of market reactions.
Investors are often left confused about market schedules, particularly during festive seasons such as Mahashivratri, which is celebrated annually based on the lunar calendar. This year, the festival falls on the 14th day of the first half of Phalguna, leading to the closure of the markets. The NSE has detailed this closure, stating, "Trading will resume on Thursday following the midweek break." This break signifies one of 14 pre-planned holidays throughout 2025 for the Indian stock market.
Understanding Mahashivratri is also important as it involves various religious observances. Celebrated by millions, devotees often participate by fasting and offering milk and flowers to the Shivling, alongside staying awake during the night to engage in prayer and meditation. The solemn nature of such observances creates significant sentiment among investors, who respect the cultural importance of these occasions.
Looking forward, the next stock market holiday will occur on Friday, March 14, for Holi, followed by Id-Ul-Fitr on March 31. The first half of the year will also observe several other holidays, including Shri Mahavir Jayanti on April 10, Dr. B.R. Ambedkar Jayanti on April 14, and Good Friday on April 18. After these observations, Maharashtra Day marks another closure on May 1.
The operational hours for the Indian stock market typically run from 9:15 AM to 3:30 PM, Monday through Friday, excluding weekends and public holidays. Each trading day opens with a pre-open session starting at 9:00 AM, allowing participants to adjust orders before regular trading begins. With the anticipation leading up to Mahashivratri, investors have highlighted this holiday as the first of the trail of closures planned throughout the year.
Despite current challenges, including consistent foreign fund outflows which are affecting the market sentiment, the steady adherence to holiday rituals provides investors with the cultural framework to make informed decisions. It remains to be seen how the markets will respond once trading resumes post-Mahashivratri.