Equity, forex, commodity markets shut on account of Mahavir Jayanti today

Financial markets are closed on account of Mahavir Jayanti today. Both BSE and National Stock Exchange will remain shut.

Besides equity, commodity markets are also shut on April 6. Derivatives (Futures and Options) markets will also remain closed.

There will be no trading activity in currency and bond markets as well.

On Friday, benchmarks Sensex and Nifty declined for the second straight session amid heightened fears of economic depression, sparked by the coronavirus pandemic. Tracking bearish trend from global indices, Sensex fell 674 points to close at 27,590 and  Nifty lost 170 points to end at 8,083.

Expressing views on Friday's market trend, Nair, Head of Research at Geojit Financial Services said, "The week saw the benchmark indices closing down by 7%, on a weekly basis. The global market trend was driven by the spread of COVID-19 cases and the steep increase in the number of infections and the deaths."

On a net basis, FIIs sold equities worth  Rs 1,960 crore & DIIs bought Rs 226 crore in equities in Friday's trade.

In the commodity market, Brent crude prices fell over 6% on Monday to USD 31.98 per barrel after a meeting to discuss output cuts between OPEC and its allies was delayed.

In currency market, the Indian rupee ended flat at 75.62 per dollar on Friday against Monday's closing of 75.61.

Overseas, US and European indices fell over 1% and closed bearish on Friday as sentiment turned risk-averse amid the rising cases of COVID-19 and tightened lockdowns across the world to combat the virus spread.

Bucking the trend, Asain counterparts were trading higher today. While Kospi and Nikkei climbed 2%, Strait Times SGX Nifty and Hang Seng grew marginally. Shanghai Composite was the only index in red territory, falling 0.60%.

Till Monday, India has reported a total of 3,374 coronavirus cases, while the death toll in the country rose to 77.  India is consecutively reporting biggest single-day jumps in new COVID-19 cases since last Monday. The novel coronavirus is in the local transmission phase in India.

Globally, there are over 12.7 lakh confirmed cases and 0.69 lakh deaths from the coronavirus outbreak. Of these, over 2.6 lakh have recovered.

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