Equity, Bonds Shut for Mahashivratri
India’s stocks, bonds, commodities, and forex markets will remain closed on Monday on account of Mahashivaratri. Commodities markets will see trading in the evening session.
The private equity market heaved a sigh of relief on Friday, as stocks took comfort from signs of de-escalation of tensions between India and Pakistan. While BSE Sensex ended above the 36,000 mark at 36,064 up 196 points or 0.55%, the broader Nifty of NSE ended Day 1 of March derivative series at 10,864, up to 71 points, or 0.66%. With this, the key goal of the BSE snapped its three-session losing run. On the bases of weekly analysis, the BSE barometer rose up to 192.33 points or 0.57% while Nifty gained 71.35 points or 0.69%. This was the second straight weekly profit for the indices.
The re-election prospects of PM Narendra Modi kept the bulls upbeat. Globally markets have also turned positive on the possibility of a Sino-US trade deal.
“The private market rallied as easing border tensions and expectations of UD-Outperformance was seen in banking small capital stocks and mid capital stocks where the valuation looks attractive,” said the Head of Search, from Geojit Financial Services Mr. Vinod Nair.
Induslnd Bank was the top gainer, followed by YES Bank, Vedanta, Hero Moto Corp, Coal India, and Maruti also being in the running. Airtel declined the most at 3.43% after it announced plans to raise as much as Rs 32,000 crore through equity and bond sales in one of the largest such exercises by any of the Indian company.
Barring the telecom, rest all of the sectoral indices ended in the green. Airtel was the only drag on the BSE Telecom index, which pulled it into the red. Necessary Materials, metals, industrials, capital goods, finance, and power, were leading sectoral gainers, with each rising over a percent. The wider market displayed strength, with the BSE Mid capital index rising by 1.29% and Small capital index 2.13%.