The stock, currency and derivatives markets will be closed to trading on Tuesday, March 1, due to Mahashivratri. According to the BSE website, there will be no trading today in the Equity segment, the Equity Derivatives segment and the SLB segment. However, commodity markets, which remain closed during the morning session, open in the evening. For commodities traders, Multi Commodity Exchange (MCX) will open during the second half of the session from 5:00 PM to 11:30 PM. Likewise, the National Commodity & Derivatives Exchange Limited (NCDEX) will resume operations from 5:00 PM to 9:00 PM. The exchanges (NSE and BSE) will resume trading on Wednesday, March 2, 2022 after the Mahashivratri holiday
On Monday, major benchmark indices defied the weak global market trend and moved sharply higher on Monday as Russia and Ukraine began talks on the Belarus border. On Monday, the Sensex rose 366.64 points, or 0.64 percent, to 57,858.15 and the Nifty rose 128.90 points, or 0.75 percent, to 17,278.
Hindalco (more than 7 percent), Tata Steel, Power Grid, JSW Steel, Coal India, BPCL, Titan Company, RIL and Indian Oil Corporation were the biggest winners of the large-cap stock markets today.
Metal counters led from the front as sanctions against Russia increased the possibility of aluminum and gas supply interruptions, which will push prices up. On the other hand, losses in HDFC Life, Dr Reddy’s Labs, Axis Bank, HDFc Bank, M&M, Eicher Motors, HDFC, Tata Motors and Hero MotoCorp kept profits in check.
Sector-wise, excluding the Nifty Metal Index, which closed nearly 5 percent higher, the Nifty Oil and Gas Index (up 2.6 percent), IT Index (up 1 percent) and the Nifty FMCG Index (increase of 0.6 percent). percent) were the other star players. On the other hand, the Nifty Auto and Bank indices were hardest hit, each at 0.7 percent.
The Indian rupee finished 21 paise lower on Tuesday at 74.77 per dollar, from Monday’s closing rate of 74.56.
Mohit Nigam, Head – PMS, Hem Securities, said: “Benchmark indices recover from lows on hopes in Russia-Ukraine negotiations, closing on Feb 28 with Nifty +0.81 percent and Sensex +0, 70 percent Most Asian markets ended positive today Strong buys are seen today in metals, oil & gas and energy stocks while some pressure was seen in auto stocks Hindalco and Tata Steel were the biggest winners in Nifty 50, while HDFC Life and Dr Reddys were the biggest losers today in Nifty 50.”
“We believe that these volatile markets offer investors good opportunities to build some quality stocks in dips. On the technical side, the immediate support and resistance for Nifty 50 are 17,000 and 16,500 respectively. Immediate support and resistance for Bank Nifty are 35,600 and 36,800 respectively,” he added.
The exchanges will have a total of 13 public holidays in 2022, according to data available on the BSE website. The next trading day falls on Holi on March 18, 2022.
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