Fair holiday: The BSE and NSE stock exchanges will be closed on Friday due to the Good Friday holiday. Trading in equities, derivatives and SLB segments remains suspended today. No action will be taken in the currency derivatives and interest rate derivatives segment either. The market was also closed to Dr. Baba Saheb Ambedkar Jayanti, Mahavir Jayanti. In the previous session, both benchmark indices ended in the red, with Sensex closing 237.44 points, or 0.41 percent lower at 58,338.93, and the NSE Nifty 50 fell 54.60 points, or 0.31 percent at 17,475.70 . The stock market will reopen for trading on Monday.
Ajit Mishra, vice president of research, Religare Broking, said: “We have a long weekend ahead of us and markets will react to two key gains on Monday, April 18, namely Infosys and HDFC Bank. next four days would also affect sentiment.”
Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One Ltd., summarized the week that it was: “Despite a promising close last Friday, our markets started the week on Monday with a lukewarm tone due to sluggish global signals On the same day, for the most part, Nifty consolidated with a hint of some weakness to close below 17,700. However, the next day witnessed a decent opening of the gap due to some jitters in global markets. While damage was largely limited, individual stocks posted decent gains all along. A similar series-bound session was observed on Wednesday to close the trimmed week with a loss of nearly 2 percent just below 17,500.”
Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services, said: “Domestic markets witnessed some selling pressure in a short trading week as investors remained cautious given continued high inflation and its impact on the economy. Market likely to remain volatile until inflationary pressures persist, widening scope for aggressive rate hikes by global central banks.Q4FY22 earnings season has kicked off with TCS numbers in line with expectations and Infosys missing estimates. Index heavyweight HDFC Bank will continue its Announcing results over the long weekend that the market would react to Monday, all in all, we expect healthy 4QFY22 gains that should drive stock-specific action in the market.”
The impact of high commodity prices has manifested itself in CPI inflation prints, forcing RBI to cut accommodation and pave the way for higher rates from June. Tighter financial conditions are hurting mid- and small-cap valuations, and the outlook calls for a defensive stance for portfolios, analysts say.
Also, trading in markets regulated by the Reserve Bank of India (RBI) will begin from 9am on April 18, with the recovery from pre-pandemic trading times. Currently, the markets open at 10am.
Read all the latest news, breaking news and IPL 2022 Live Updates here.