Indian Markets Closed For Gandhi Jayanti

Indian stock markets remain closed today on account of Gandhi Jayanti. There will be no trading in the equity derivatives, currency derivatives and commodity derivatives segments as well.

The Reserve Bank of India’s (RBI) monetary policy meeting, monthly sale figures from auto and cement companies, manufacturing PMI numbers, the release of corporate earnings and macroeconomic readings on foreign exchange reserves, bank loan growth and deposit growth data may attract investor attention later this week.

Benchmark indexes Sensex and Nifty ended Friday’s session on a positive note but the Nifty 50 posted its second-straight weekly loss.

Asian stocks were seeing modest losses in thin holiday trade this morning, with markets in mainland China, Hong Kong and South Korea closed for holidays.

Japan’s Nikkei average jumped 1.5 percent as the yen hit a one-year low. U.S. legislators reached a temporary agreement on averting a government shutdown, helping offset weak factory activity data from China and Japan.

The dollar was firmer, weighing on bullion prices. Oil prices were modestly higher to reverse some of Friday’s losses ahead of the OPEC+ meeting on October 4.

U.S. stocks ended mixed on Friday to cap a brutal month as new data pointed to easing inflation and House GOP leaders failed to pass a short-term spending bill.

Treasury yields slipped after data showed core inflation based on the Fed’s favorite inflation measure rose 3.9 percent year-on-year in August, marking the lowest in almost three years and down from 4.2 percent in July.

Personal income and spending rose in August while consumer confidence dropped again in September and a measure of Chicago business activity fell in the month, separate reports showed.

The tech-heavy Nasdaq Composite rose 0.1 percent while the Dow dropped half a percent and the S&P 500 eased 0.3 percent.

European stocks rose broadly on Friday but posted steep losses for the July – September quarter on inflation and interest-rate concerns.

The pan European STOXX 600 advanced 0.4 percent after the release of positive Eurozone inflation and U.K. GDP data.

The German DAX rose 0.4 percent, France’s CAC 40 edged up 0.3 percent and the U.K.’s FTSE 100 finished marginally higher.