Share market: BSE, NSE shut on account of Ambedkar Jayanti today

Financial markets will remain closed on April 14, 2020, on account of Dr Baba Saheb Ambedkar Jayanti. BSE and NSE will remain shut today.

Besides equity, commodity, as well as derivatives (Futures and Options) markets, will also remain shut. There will be no trading activity in currency and bond markets as well.

Financial markets will resume trading on Wednesday, April 15.

On Monday,  Sensex closed 469 points lower at 30,690 and Nifty lost 118 points to 8,993. Sensex and Nifty have fallen  9.82% in the last one month and 26% since the start of the year. Contrary to this, the indices have gained over 11% in last week's trade.

The currency benchmark rupee settled at 76.27 per dollar.

According to experts, prevailing uncertain market conditions amid the rising cases of the virus and extension of the lockdown period have caused volatility and led to the downfall of broader markets on a global scale. There are 18.53 lakh confirmed cases worldwide and almost 1.14 lakh deaths from the coronavirus COVID-19 outbreak.

Meanwhile, PM Modi will address the nation at 10 am on April 14 amid the virus outbreak. Most states requested the Prime Minister to extend the lockdown for 2 more weeks.

Ajit Mishra, VP - Research, Religare Broking said," The market has seen a decent run-up recently led by rising hopes of the stimulus package from the government amid positive global cues. And, now the Prime Minister's speech would also be actively tracked for the roadmap to fight the coronavirus and measures to kick-start the economic activities. Besides, we shall be seeing the participants reacting to the CPI number in early trade on Wednesday i.e. April 15. Needless to say, volatility will remain high in the coming sessions too and traders have no option but to align their positions accordingly."

Vinod Nair, Head of Research at Geojit Financial Services said," The Indian markets are awaiting the decision of the government regarding the current lockdown. The government is expected to announce a plan for a staggered withdrawal from the lockdown. Any continuation of the lockdown in its current form will put further pressure on economic growth and corporate earnings and will have a negative impact on the markets."

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