Key Highlights
- Market shut: BSE and NSE are closed on Friday, October 2, for Gandhi Jayanti, across equity, derivatives and SLB segments. MCX is also closed.
- Back on Monday: Trading resumes on October 5 after a three-day break.
- Week sealed: With Thursday as the last session, Nifty ends the week down about 3.1% and Sensex about 2.7%, the eighth straight weekly loss.
- A late fightback: On Thursday, Sensex recovered over 600 points from its intraday low before closing.
- Next holiday: Markets will also be shut on October 20 for Dussehra.
Indian stock markets are closed on Friday, October 2, on account of Mahatma Gandhi Jayanti. Trading is suspended on both the BSE and NSE across all segments, including equity, derivatives and securities lending and borrowing (SLB). The Multi Commodity Exchange (MCX) is also closed for both its morning and evening sessions.
With the weekend following, there will be no trading for three days. Markets will reopen on Monday, October 5.
Why It Matters: The Holiday Confirms an Eighth Weekly Loss
Because Friday is a holiday, Thursday's close becomes the close for the week, and that confirms a grim milestone. After seven straight weekly declines, the market has now posted an eighth.
| Last week's close | This week's close | Weekly change | |
|---|---|---|---|
| Nifty | 23,140 | 22,421.95 | ~−718 points (~−3.1%) |
| Sensex | 73,895 | 71,909.70 | ~−1,985 points (~−2.7%) |
Every session this week ended lower, as foreign investors kept selling, bond yields stayed elevated and crude prices rose again.
Thursday: A Sharp Fall, Then a Partial Recovery
Thursday's session showed both the pressure and some resistance to it. Sensex fell as much as 1,187.41 points, or 1.63%, to an intraday low of 71,292.88, before recovering to close 570.59 points lower at 71,909.70. That means the index clawed back about 617 points from its low before the bell.
Nifty settled 198.50 points, or 0.88%, lower at 22,421.95.
Is a Rebound Coming?
According to market experts, the overall bias remains negative, but the market is now sharply oversold on the Relative Strength Index (RSI). The RSI measures how fast and how far prices have moved; when it shows "oversold" levels, it suggests selling may have been overdone and a technical bounce could follow.
"The ability to sustain above the breached April 2025 swing-low region will be important for stabilisation, while continued weakness below this area could keep the broader downtrend intact," experts said. They added that any recovery will be watched for signs of sustained buying rather than a short-lived bounce.
Remaining Market Holidays in 2026
| Date | Occasion |
|---|---|
| October 2 | Mahatma Gandhi Jayanti |
| October 20 | Dussehra |
| November 10 | Diwali-Balipratipada |
| November 24 | Prakash Gurpurb |
| December 25 | Christmas |
What to Watch on Monday
When trading resumes on October 5, investors will watch three things: whether crude prices ease over the long weekend, any developments around the US-Iran standoff, and whether foreign investors slow their selling. A three-day break gives global markets time to move, so Monday's opening could see a sharp reaction either way.
The Bottom Line
The Gandhi Jayanti break offers investors a pause, but not relief. The market has now fallen for eight straight weeks, and while oversold signals hint at a possible bounce, a lasting recovery will need a turn in global factors.
With inputs from IANS.