Stock markets to remain closed for four days; trading to resume on April 18

All major financial markets including BSE, National Stock Exchange, metal and bullion, forex and debt markets will remain closed

FPJ Web DeskUpdated: Thursday, April 14, 2022, 08:28 AM IST
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All major financial markets including BSE, National Stock Exchange, metal and bullion, forex and debt markets will remain closed for the day on account of Good Friday.. /Representational image |

The stock markets will be closed for the next four days from April 14 to April 17. April 14 is Ambedkar Jayanti, April 15 is Good Friday and the bourses are shut on the weekends.

All major financial markets including BSE, National Stock Exchange, metal and bullion, forex and debt markets will remain closed.

The stock market indices closed lower for the third consecutive session on April 13.

At close, the Sensex was down 237.44 points or 0.41 percent at 58,338.93. The Nifty was down 54.60 points or 0.31 percent at 17,475.70. About 1, 811 shares have advanced, 1, 494 shares declined, and 136 shares are unchanged.

Among top Nifty losers were Maruti Suzuki, HDFC, HDFC Bank, Tata Motors and Dr Reddy's Labs. ONGC, Apollo Hospitals, ITC, Sun Pharma and UPL were among the top gainers.

In the last week, the benchmark indices witnessed profit booking at higher level, said Amol Athawale, Deputy Vice President - Technical Research, Kotak Securities Ltd.

The Nifty ended 309 points or 1.73 percent lower, while the Sensex down by 1,122 points. Due to tepid global market conditions, temporary overbought situation and ahead of long weekend, traders preferred profitbooking at higher levels.

In last three trading session, the Nifty/ Sensex corrected nearly 350 /1,150 points. Among sectors, profit booking was seen in IT, Metal and Reality stocks whereas Energy stocks outperformed, as a result Nifty Energy index rallied over 2.4 percent.

Asian stocks up

Asian shares tracked Wall Street higher on Thursday, while US Treasury yields steadied and dollar retreated, as latest US data raised hopes that inflation may be close to peaking, though several major central banks raised rates aggressively, Reuters said.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent in early Asian trading, buoyed by a 0.5 percent gain in Australia's resource-heavy shares and a 0.6 percent advance in mainland China's blue chip stocks. Japan's Nikkei was up 1.2 percent.

South Korean shares were an outlier on Thursday. The KOSPI index fell 0.4 percent as the central bank raised its policy rate to the highest since August 2019 in an unexpected move as it seeks to quell surging inflation. Asian markets including Hong Kong, Singapore and Australia are on holiday on Friday for Easter, as are major European and US markets.

US stocks close higher

Wall Street rallied to end sharply higher on Wednesday, powered by a recovery in interest-sensitive growth stocks as investors digested hot inflation data and a mixed bag of quarterly results, Reuters said.

Falling US Treasury yields helped the tech-heavy Nasdaq lead all three major US stock indexes higher, with semiconductors (.SOX) outperforming the broader market.

The Nasdaq jumped over 2 percent while the S&P 500 and the Dow gained more than 1 percent.

Crude prices down

Oil futures were down slightly on Thursday morning, after rising sharply in the first half of the week, as traders weighed a larger-than-expected build in US oil stocks against tightening global supply. US crude dipped 0.64 percent to $103.58 a barrel. Brent crude fell to $108.25 per barrel.

Oil prices rose after Russian President Vladimir Putin said that on-and-off peace talks with Ukraine had hit a dead end, fuelling supply worries, with US fcrude recently rose 3.51 percent to $104.13 per barrel. Brent was at $108.64, up 3.82 percent on the day.

Rupee slips

The rupee declined 3 paise to close at 76.18 (provisional) against the US dollar on Wednesday, tracking the strength of the greenback in the overseas market and weak domestic macroeconomic data.

At the interbank foreign exchange market, the rupee opened lower at 76.15 against the American currency, then slipped further to 76.26. It finally settled at 76.18, down 3 paise over its previous close.

On Tuesday, the rupee fell 24 paise to end at 76.15.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.13 per cent higher at 100.42.

(With inputs from Reuters)

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