Markets will remain closed on Wednesday on account of Dussehra festival celebrations across the country. Also, there will be no trading in equity, derivative and SLB (Securities Lending and Borrowing) Segments, according to the BSE website.
Commodities trading will be closed between 9 am and 5 pm. Though, the trading will start from 5 pm to 11.30 pm.
The benchmark BSE Sensex and broader NSE Nifty rebounded sharply on Tuesday, led by solid gains across all sectors. Sensex and Nifty surged over 2 per cent, respectively, mirroring strong gains in global markets.
Foreign institutional investors (FII) turned net buyers in the beginning of the week, purchasing Rs 591 crore worth of domestic equities on Monday, provisional data available with the NSE showed.
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“In the last eight out of ten years Sensex has given positive returns in October. Also, markets have a record of troughing out in October. This may happen this October too. The ‘risk-off, risk-on’ texture of the market is in response to fast changing economic and market signals. For the near-term the market sentiments have turned positive with declining trend in dollar and US bond yields,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Globally, Wall Street futures jumped as retreating US Treasury yields and US dollar bolstered demand for stocks, while investors awaited clues on how much further the Federal Reserve would go with interest rate hikes to rein in surging prices.
Yield on the 10-year US Treasury slipped to near two-week lows, lifting rate-sensitive growth stocks.
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Asian stocks advanced as well as Japan’s Nikkei index surged 2.96 per cent and South Korea’s KOSPI rose 2.50 per cent.
In currency markets, the US dollar its paused in a relentless climb as market participants hoped that the US Federal Reserve is moving closer to the end of its rate hike cycle.
On the energy market front, Brent crude rose 0.91 per cent to $89.67 per barrel.
