Share Market Holiday: Domestic stock market closed on Guru Nanak Jayanti, Asian indices showed gains
New Delhi| Indian stock markets will remain closed on Friday on the occasion of Prakash Parv to commemorate the birth anniversary of Guru Nanak Dev, the founder of Sikhism. The occasion, widely celebrated by the Sikh community in India and across the world, is a reminder of the teachings and legacy of Guru Nanak Dev, who conveyed the message of equality, compassion and service to humanity.
Due to the holiday, other major financial markets including Bombay Stock Exchange (BSE), National Stock Exchange (NSE), and currency and commodity markets will remain closed for both equity and derivatives trading throughout the day. On Monday, November 18, the market will open at its regular time.
In other Asian markets on Friday, Japan’s Nikkei index rose 0.8 percent, while Hong Kong’s Hang Seng index rose 0.54 percent, as did Taiwan’s weighted index. However, South Korea’s KOSPI index dropped 0.4 percent at the time of filing this report. Brent crude is currently trading at $72.13 per barrel.
On Thursday, the Indian benchmark stock index fell for the sixth consecutive day to a multi-month low. Sensex closed at 77,580.31 points, down 110.64 points or 0.14 per cent, while Nifty closed at 23,532.70 points, down 26.35 points or 0.11 per cent. Regional indices showed mixed trends; Nifty Bank, Auto and Media remained on the green mark, while FMCG, Pharma and PSU Bank remained on the red mark.
The steady decline in indices is due to a number of factors, including relatively low earnings of companies in the second quarter results, continued foreign fund outflows and rising domestic inflation-both retail and wholesale. In U.S. markets on Thursday, both the S&P 500 and Nasdaq indices closed with declines. The S&P 500 closed down 0.6 percent, while the Nasdaq closed down 0.69 percent.
