Indian Markets Closed For Holiday

Indian stock markets (BSE and NSE) remain closed today on the occasion of Guru Nanak Jayanti.

Benchmark indexes Sensex and the Nifty fell notably on Thursday to extend losses for a third straight session, while the rupee settled four paise higher at 74.24 against the dollar.

Asian markets traded mixed this morning as China’s top e-commerce firm Alibaba slashed its outlook and Japanese Prime Minister Fumio Kishida announced a fresh stimulus package with spending worth around 56 trillion yen ($US490 billion).

The dollar was set to post a second week of chunky gains against the euro, while U.S. benchmark Treasury yields held steady at 1.5924 percent.

Gold prices inched higher but were set for their first weekly decline in three. Oil extended overnight gains despite talk of a coordinated strategic reserve release and concerns that new COVID-related restrictions would hurt demand.

U.S. stocks fluctuated before closing mixed overnight as concerns over inflation and supply chain problems offset latest economic data painting a positive picture of the world’s largest economy.

The tech-heavy Nasdaq Composite rose half a percent and the S&P 500 edged up 0.3 percent to reach new record closing highs while the Dow slipped 0.2 percent.

European stocks closed Thursday’s session on a subdued note as traders grappled with seasonal Covid-19 worries and ongoing inflation concerns.

The pan European Stoxx 600 gave up half a percent. The German DAX and France’s CAC 40 index both dipped around 0.2 percent while the U.K.’s FTSE 100 shed half a percent.

Market Analysis