Asian indices gain, as Indian markets remain closed

Asian markets made gains on Thursday, even as the Indian equity markets remained closed on account of Ambedkar Jayanti.

According to market analysts, the uptrend witnessed in the Asian equities on Thursday came on the back of positive closing of the US and European indices on Wednesday.

Besides, healthy trade data from China supported the Asian indices' upward trajectory.

In addition, Singapore's Central Bank's decision to ease its monetary policy led investors to expect similar moves by other Southeast Asian countries, as they face headwinds of adverse global economic conditions.

In the Asian markets, the Japanese benchmark Nikkei ended Thursday's trade higher by 3.2 percent, while Hang Seng index inched up 0.89 percent.

In other Asia-Pacific markets, the Shanghai Composite Index, Kospi Index, Straits Times Index and Taiwan's SE Weighted Index registered gains.

The Shanghai Composite Index rose by 0.52 percent, South Korea's Kospi Index gained 1.75 percent, Singapore's Straits Times Index increased by 0.93 percent and the Taiwan's SE Weighted Index was up 0.18 percent.

Apart from the Indian markets, indices were also closed in Thailand.

On Wednesday, both the key Indian indices had ended on a higher note, due to prediction of an above average monsoon rains this year.

The S&P BSE Sensex had surged up 481.16 points or 1.91 percent, and the Nifty of the National Stock Exchange (NSE) had gained 142 points or 1.84 percent.

Major Sensex gainers during Wednesday's trade were Mahindra and Mahindra (M&M), up 7.40 percent at Rs.1,332.60; ICICI Bank, up 5.40 percent at Rs.241; Bajaj Auto, up 4.95 percent at Rs.2,580.80; BHEL, up 4.88 percent at Rs.133.35; and Maruti Suzuki, up 4.42 percent at Rs.3,734.60.

Major Sensex losers during the day's trade were Infosys, down 0.87 percent at Rs.1,172.05; and Adani Ports, down 0.11 percent at Rs.233.05.

On a weekly basis, the barometer 30-scrip sensitive index (Sensex) of the BSE surged by 953.75 points or 3.87 percent to 25,626.75 points.

Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) edged-up by 295.25 points or 3.90 percent to 7,850.45 points.

The Indian equity markets will also remain closed on Friday on account of Ram Navami.