The markets closed in red on Tuesday, October 1, after a relatively promising start. However, this was not as bad as the day before that, or the last trading day of September, when the marquee Indian indices dropped by over 1 per cent by the end of the intraday trade.
Markets To Remain Closed
As the day came to an end, the BSE Sensex slumped with marginal losses of 33.49 points, or 0.04 per cent, ending the day at 84,266.29. Similarly, the NSE Nifty dropped in value by 13.95 points or 0.05 per cent, to close at 25,796.90.
Sensex & Nifty In Red: Indian Markets Start October On A Negative Note
The markets, however, have a breather before kick-starting for the new month.
The markets will remain shut on Wednesday, October 2, on account of Gandhi Jayanti or the birth anniversary of Mahatma Gandhi. This is the first holiday at Dalal Street since Thursday, August 15, when the markets remained non-operational on account of Indian Independence Day.
The next official holiday at the equity markets is on Friday, November 1, on account of Diwali (Laxmi Pujan).
Bank Holiday
As we usher into the months of festivities, banks will remain non-operational on some days in October. On October 1, banks around the country are slated to remain shut. In-person banking will therefore be truncated this week.
Although the physical operation of banks and their branches will not be available today, customers can avail services and continue banking using other mediums that are not affected during this period.
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Customers can use services like ATMs, the Unified Payment Interface (UPI), and internet banking, along with National Electronic Fund Transfer, or NEFT, and Real Time Gross Settlement, or RTGS, which can also be made available on bank holidays.
However, some of the services may be affected, if individual banks decide to use the period for maintenance work. In this case, customers are expected to touch base with their banks for further information on available services.