Indian markets closed on I-Day

Indian stock, debt and currency markets are closed on Thursday for Independence Day celebrations. Trading will resume on Friday.

 

On Wednesday, the benchmark index Sensex ended higher by 138 points at 19,367 and the 50-share Nifty advanced 43 points to close at 5,742.

“The short-term trend for the NSE Nifty has turned negative as the 20-DMA has slipped below the 50-DMA. In the near term, the NSE index is likely to face stiff resistance around 5,800-5,850, which is where the three key moving averages lie,” technical analysts suggest.
 

The partially convertible rupee closed at an all-time closing low of 61.43 against the US dollar on Wednesday, after July inflation unexpectedly rose to a five-month high, prompting the Reserve Bank of India (RBI) to announce more measures to support the currency.

 

Globally, Asian shares dropped in early trades. Tokyo's Nikkei stock average was down 1.3 percent, off a one-week closing high hit on Wednesday.

 

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS dipped slightly in early trading and then was flat.

 

Overnight, US stocks fell as investors speculated on when the Federal Reserve might curb its stimulus measures.

 

The Dow Jones industrial average was down 86.38 points, or 0.56 percent, at 15,364.63. The Standard & Poor's 500 Index was down 5.41 points, or 0.32 percent, at 1,688.75. The Nasdaq Composite Index was down 4.25 points, or 0.12 percent, at 3,680.20.