- Indian markets closed October 2; extended four-day losing streak.
- Foreign selling, rising oil, bond yields caused market fall.
- October features multiple holidays, impacting future trading plans.
The Indian stock market is closed today, Friday, October 2, for Mahatma Gandhi Jayanti. The holiday follows a sharp sell-off in the previous session, when the Sensex and Nifty extended their losing streak to four sessions.
With October featuring both festival holidays and regular weekend closures, investors will have several non-trading days to factor into their plans. The supplied holiday schedule lists 11 market holidays for the month.
October Starts With A Market Holiday
October 2 is the first non-trading day of the month and is being observed for Mahatma Gandhi Jayanti. The next market closures are the weekend of October 3 and 4.
The remaining October holidays listed in the schedule are:
| Date | Day | Reason |
|---|---|---|
| October 2 | Friday | Mahatma Gandhi Jayanti |
| October 3 | Saturday | Weekend |
| October 4 | Sunday | Weekend |
| October 10 | Saturday | Weekend |
| October 11 | Sunday | Weekend |
| October 17 | Saturday | Weekend |
| October 18 | Sunday | Weekend |
| October 20 | Tuesday | Dussehra |
| October 24 | Saturday | Weekend |
| October 25 | Sunday | Weekend |
| October 31 | Saturday | Weekend |
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Dussehra To Bring Second Festival Closure
The other festival holiday in the October schedule falls on Tuesday, October 20, for Dussehra.
The festival closure follows the October 17-18 weekend. Markets will also remain shut over the October 24-25 weekend, while October 31 is listed as another Saturday holiday.
For investors, the cluster of holidays means trading activity needs to be planned around the scheduled non-trading sessions.
Sensex, Nifty Fell Sharply Before Gandhi Jayanti
The holiday comes after a difficult session for Indian equities.
On Thursday, the Sensex dropped 570.59 points, or 0.79 per cent, to 71,909.70, while the Nifty declined 198.50 points, or 0.88 per cent, to 22,421.95.
The Sensex had fallen as much as 1,187.41 points during the session, touching a fresh 52-week low of 71,292.88.
Foreign institutional selling remained a major factor. Exchange data showed that FIIs sold equities worth Rs 10,148.41 crore on Wednesday. Over five consecutive sessions through Wednesday, their cumulative selling stood at Rs 34,203.14 crore.
Brent crude also rose 2.77 per cent to $100.8 per barrel.
Why The Market Came Under Pressure
Vinod Nair, Head of Research at Geojit Investments Ltd, said the market sell-off was driven largely by external factors, with bond yields reaching multi-year highs and crude prices remaining elevated. He said these developments had raised concerns over the economic outlook for 2026-27.
Hariselvan Radhakrishnan, Founder and CEO of HST Wealth, a research analyst firm, said the renewed rise in the US 10-year Treasury yield towards 5.34 per cent increased the relative appeal of dollar assets and raised the valuation hurdle for emerging-market equities.
Ponmudi R, CEO of Enrich Money, said higher crude prices, elevated US Treasury yields and a sharp fall in the rupee had unsettled investors. He also pointed to continued foreign institutional selling as a source of pressure.
Nifty Records Longest Losing Streak Since 2020
The decline has extended beyond the latest session. According to Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, the Nifty-50 has fallen 7.9 per cent over the past eight weeks, marking its longest losing streak since 2020 and taking the index to a six-month low.
Broader markets also ended lower on Thursday. The BSE SmallCap Select index fell 0.96 per cent, while the MidCap Select index declined 0.71 per cent.
Among sectoral indices, Auto fell 3.09 per cent, Metal declined 2.18 per cent, Consumer Discretionary dropped 2.07 per cent, and Commodities fell 1.90 per cent.
Also Read : UPI Crosses 24 Billion Transactions In September Despite 1.8% Monthly Dip
September Also Ends On A Weak Note
The September performance added to the recent market decline.
The Sensex lost 4,476.98 points, or 5.81 per cent, during September, while the Nifty fell 1,459.95 points, or 6 per cent.
On a weekly basis, the Sensex declined 1,986.04 points, or 2.68 per cent, and the Nifty dropped 718.55 points, or 3.10 per cent.
With trading suspended on October 2, investors can use the October holiday calendar to plan around the remaining festival and weekend closures.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: abplive.com
