Stock exchanges across India will remain closed on Monday to commemorate Dr BR Ambedkar Jayanti. The occasion marks the birth anniversary of Babasaheb Ambedkar, who was born on April 14, 1891.
The nation observes this day as a public holiday annually, with educational institutions, banks and numerous government offices remaining closed to honour the social reformer and creator of the Indian Constitution.
The Indian equity markets concluded the previous week on a positive note following an intensely volatile session at the week’s beginning. On Friday’s closing, Sensex reached 75,157.26 points, rising by 1,310.11 points or 1.77 per cent, whilst Nifty settled at 22,828.55 points, increasing by 429.40 points or 1.92 per cent. The sectoral indices showed strong performance in Nifty metal, consumer durables, and oil and gas.
The week had commenced with a substantial decline on Monday, as global markets responded adversely to the US administration’s declaration of reciprocal tariffs. This action sparked concerns about a potential trade conflict and caused investor unease. The circumstances deteriorated when China issued its own counter-measures, further affecting investor confidence globally.
The markets subsequently regained stability after the US chose to postpone tariff implementation for all nations except China. This decision provided relief to international markets, including India, leading to price recovery in subsequent trading sessions.
Domestically, Indian indices benefited from the Reserve Bank of India’s latest policy statement. The central bank reduced interest rates and maintained an accommodative position, suggesting potential additional support if required. Investors responded positively to this announcement, helping offset earlier declines.
Ajit Mishra – SVP, Research, Religare Broking said “The upcoming holiday-shortened week will remain sensitive to further developments on the U.S.-China tariff front. On the domestic side, the spotlight will also be on corporate earnings, with heavyweights such as Wipro and Infosys from the IT sector, along with private banking majors HDFC Bank and ICICI Bank, scheduled to announce their quarterly results”.
