Markets Closed for Mahavir Jayanti on FY26’s Last Trading Day

Markets will be closed on March 31 for Shri Mahavir Jayanti, marking the last trading day of FY26. BSE and NSE will not conduct regular trading on this holiday, while the Multi-Commodity Exchange of India (MCX) will operate a partial session from 9 am to 5 pm, with the evening window open from 5 pm to 11 pm. Trading will resume in the evening session, as is customary on trading holidays. The week’s next holiday is Good Friday on April 3, by which time major global markets, including the US stock market, are also expected to be shut.

In a related market update, on the prior trading day Sensex fell 1,635 points to close at 71,947, while Nifty declined 488 points to 22,331, underscoring continued selling pressure on Dalal Street. The market cap of BSE-listed firms slipped by nearly Rs 10 lakh crore, to Rs 412.43 lakh crore, down from Rs 422 lakh crore in the previous session. Amid the ongoing correction, Nifty has shed about 14.54% and Sensex around 15.54% in FY26.

Hitesh Tailor, Research Analyst at Choice Equity Broking, advised investors to stay cautious. From a technical perspective, immediate support for Nifty sits around 49,900–50,000, with resistance between 50,500 and 50,600. The Relative Strength Index (RSI) stood at 28.44, signaling an oversold zone and persistent selling pressure unless momentum reverses.

The holiday also affects banking activity; March 31 is a key day for year-end settlements and tax-related payments, with branches typically experiencing heightened footfall. Markets will need to wait for the next trading day to reassess risk and for any new guidance from policymakers or corporate earnings to drive the next leg.

Looking ahead, market watchers will be watching for a potential technical bounce if selling pressure eases and if global cues stabilize ahead of Good Friday weekend liquidity.

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