Markets closed on account of Guru Nanak Jayanti

Indian equity, forex, money and commodity markets are closed for Guru Nanak Jayanti

Trading segments including Indian equity, forex, money and commodity markets are shut today on account of Guru Nanak Jayanti, which commemorates the birth of the founder of the Sikh faith.

 

On Wednesday, markets ended at record closing highs and the Sensex topped 28,000 mark intra-day for the first time as foreign institutional investors remained aggressive buyers in equities.

 

The 30-share Sensex ended  56 points up at 27,916 after hitting a fresh record high of 28,010.39 and the 50-share Nifty ended 14 points up at 8,338 after touching a record high of 8,365.55.

 

On the other hand, broader markets too retreated from their intra-day highs. The small and midcap indices ended up between 0.2-0.8%.

 

On the macro economic front, the disappointing services PMI data dampened the investor sentiment. Growth in India's dominant service industry stalled last month as new orders came in at a weaker pace, adding to pressure on the government to drive through economic reforms, a business survey showed on Wednesday.

 

The HSBC Purchasing Managers' Index (PMI), compiled by Markit, fell to 50 in October from September's 51.6, the lowest in six months and right on the break-even point between growth and contraction.

 

Meanwhile, foreign funds were net buyers in equities to the tune of Rs 1,030.85 crore on Wednesday, as per provisional stock exchange data.

 

Global Markets: 

 

Asian shares eked out small gains and the dollar was riding high on Thursday after generally solid U.S. economic data and expectations of business-friendly policies following the Republican Party's election victory helped Wall Street shares to finish at a record high.

 

Japan's Nikkei share average  was up 4% and Straits Times and Shanghai Composite gained between 0.1-0.3%. However, Straits Times was trading flat with a negative bias.

 

U.S. stocks climbed after investors applauded an upbeat private-sector jobs report as well as a Republican victory in  elections, which gave the party control of both houses of Congress.

 

At the close of U.S. trading, the Dow 30 rose 0.58%, the S&P 500 index rose 0.57%, while the NASDAQ Composite index dipped 0.06%.