- Indian stock markets to close for 10 days in August 2024.
- BSE Sensex and NSE Nifty 50 show positive performance.
- UltraTech Cements acquires significant stake in India Cements.
In August 2024, the Indian stock markets will observe 10 days of closure, including weekends. The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will be entirely closed on these days, which investors should account for in their planning.
Upcoming IPOs, including Ola Electric and Akums Drug, are anticipated to draw significant attention from investors.
Market Performance Update
The Bombay Stock Exchange (BSE) Sensex index closed at 81,332.72 points, up by 1.62% from the previous trading session. Meanwhile, the National Stock Exchange (NSE) Nifty 50 index ended at 24,834.85 points, an increase of 1.76%. Notably, the Nifty Midcap 50 and Nifty Midcap Select indices also saw gains, with increases of 2.24% and 2.17%, respectively.
In the corporate sector, UltraTech Cements’ move to acquire a 32.72% stake in India Cements for ₹3,954 crore is a significant development. This acquisition, priced at ₹390 per share, will be completed with shares bought from promoters and their associates. The IPOs and corporate moves highlight a dynamic market landscape.
August 2024 presents a busy month for the Indian stock market, with significant holidays and notable corporate activities. Investors should stay informed about the IPOs and market movements to navigate the period effectively.
“Success in investing doesn’t come from understanding companies but from understanding markets.” — Peter Lynch
