Indian equity markets were shut on Tuesday for the Diwali-Balipratipada holiday. Investors are now awaiting the resumption of trading on Wednesday, while keeping a close watch on global market trends and declining Brent crude oil prices.
Market Closure and Resumption
Indian equity markets remained closed on Tuesday on account of Diwali-Balipratipada, while major Asian markets traded higher and Brent crude oil prices continued their downward movement, offering global market cues ahead of the domestic market reopening on Wednesday.
The National Stock Exchange (NSE) and the BSE remained shut for trading during the day. The National Commodity & Derivatives Exchange Limited (NCDEX) also remained closed for the day. The Multi-Commodity Exchange of India (MCX), the country’s largest commodity exchange, suspended trading during the morning session from 9 am to 5 pm. Trading will resume in the evening session from 5 pm to 11:30 pm, according to its website. Trading activity across the stock and commodity exchanges will resume on Wednesday, November 11, with normal market timings.
Global Market Performance
Meanwhile, Brent crude oil prices continued to decline, falling 0.93 per cent to USD 91.70 per barrel at the time of reporting. Among Asian markets, South Korea’s KOSPI recorded the biggest gain, surging 3.95 per cent to 5,217. Japan’s Nikkei 225 index advanced 2.36 per cent to 60,161, while Taiwan’s Weighted Index rose 1.91 per cent to 42,456. Hong Kong’s Hang Seng gained 0.31 per cent to 24,517, while Singapore’s Straits Times was down 0.04 per cent at 5,257.
The gains in Asian markets followed a strong session on Wall Street on Monday, where all three major US indices closed higher. The S&P 500 jumped 2.34 per cent to close at 7,549, while the Dow Jones index gained 2.15 per cent to settle at 52,389. The Nasdaq also advanced 2.74 per cent to close at 25,253.
Recent Domestic Performance
On the domestic front, Indian equity benchmark indices ended Monday’s session on a marginally positive note after moving between gains and losses during the day. The BSE Sensex closed at 81,106.65, gaining 107.25 points or 0.13 per cent from its previous close of 80,999.40. Similarly, the NSE Nifty 50 settled at 25,044.65, rising 58.25 points or 0.23 per cent against its previous close of 24,986.40. Investors will track global market movements, including trends in Asian equities and crude oil prices, when domestic trading resumes on Wednesday.
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