Stock market holiday today as Bse, Nse closed on Ambedkar Jayanti

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The Indian Stock Exchange is closed on Thursday due to a public holiday for Dr Baba Saheb Ambedkar Jayanti/Mahavir Jayanti. Trading in the equity, derivatives and SLB segments will remain suspended today. There will also be no action in the Currency Derivatives segment and in the Interest Rate Derivatives segment. The next stock market holiday will fall on Friday, as ESB and ESN will be closed for Good Friday.

Stock indices gave up early gains to close in the red for the third trotting session on Wednesday, weighed by selling in banking and financial meters amid inflationary pressures and continued outflows of foreign funds. A weak rupee and lackluster global indices also helped keep buying sentiment in check.

The BSE Sensex closed down 237 points at 58,338.93. On similar lines, the NSE Nifty fell 54.65 points or 0.31% to close at 17,475.65. In the broader market, the BSE small cap gauge gained 0.2%, while the mid cap index fell 0.2% in Wednesday’s session. During the truncated holiday week, the Sensex fell 1,108 points or 1.8%, while the Nifty 50 lost 1.7%.

“Domestic markets have seen some selling pressure in a short week of trading as investors remain cautious given high inflation and its impact on the economy. Going forward, the market is expected to remain volatile until inflationary pressure persists, raising the possibility of an aggressive rate hike by central banks around the world.Two index heavyweights Infosys and HDFC Bank will announce results to which the market will react on Monday. Overall, we expect strong earnings which should boost equity-specific action in the stock market,” said Siddhartha Khemka, Head of Retail Research, Motilal Oswal.

India’s retail price inflation hit a 17-month high of 6.95% in March and remained above the Reserve Bank of India’s upper tolerance level, while PII rose only 1.7% in February, according to official data released on Tuesday.

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