Financial Markets Shut For Ram Navami Holiday
Ram Navami Market Holiday: Domestic financial markets remained shut on Thursday, April 2, for Ram Navami, as India entered the ninth day of a 21-day nationwide lockdown to curb the rapid spread of the coronavirus pandemic. The government has allowed financial markets to operate normally and directed banks to ensure the branches and ATMs remain open during the lockout which began on March 25. The spread of the deadly virus has battered the markets around the globe, as investors assess the effectiveness of policy measures against the outbreak.
Domestic stock, forex exchange and commodity markets will resume trading on Friday, April 3.
On Wednesday, equity markets fell 4 per cent amid a selloff across sectors led by financial and information technology shares.
The S&P BSE Sensex ended 1,203.18 points - or 4.08 per cent - lower at 28,265.31 and the broader NSE Nifty 50 benchmark settled at 8,253.80, down 343.95 points from the previous close.
The forex markets also remained shut on Wednesday, April 1 for the annual closing of banks. The rupee had ended nearly unchanged at 75.60 against the US dollar the previous day.
Commodity exchanges have cut down trading hours in the wake of coronavirus pandemic, in a shift from the practice of allowing trading till midnight. The trading now begins at 9 am and ends at 5 pm, instead of 11:50 pm earlier.
Market Holidays Ahead
The country's equity, currency and commodity markets will remain shut on three more days this month, on account of Mahavir Jayanti on April 6, Good Friday on April 10 and Ambedkar Jayanti on April 14.
