Indian stock markets will remain closed today, June 26 on account of Muharram, with trading suspended across major segments on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Trading in equities, equity derivatives, securities lending and borrowing (SLBs), currency derivatives, and interest rate derivatives will remain shut for the day on both exchanges.
Meanwhile, the commodity derivatives segment will remain closed during the morning session from 9:00 am to 5:00 pm, but trading will resume in the evening session between 5:00 pm and 11:30 pm/11:55 pm.
Trading on the NSE and BSE will resume on June 29 (Monday).
Indian benchmark indices extended the winning streak on the second consecutive day on June 25 with Nifty reclaiming 24,250, hitting more than a one-month high aided by easing crude oil prices and buying seen in the auto, FMCG, realty stocks. However, selling in metal, IT, oil & gas names limit the gains.
At close, the Sensex was up 109.25 points or 0.14 percent at 77,100.47, and the Nifty was up 34.35 points or 0.14 percent at 24,056..
The broader indices underperformed the main indices with Nifty midcap and smallcap index falling 0.5 percent each.
Biggest Nifty gainers were Interglobe Aviation, M&M, Max Healthcare, Maruti Suzuki, Tata Consumer, while losers included ONGC, Power Grid Corp, Hindalco, Bharat Electronics and Tech Mahindra.
Sectoral indices ended mixed with FMCG gained 0.7%, Realty rose 0.3% and Auto index gained more than 2%, while IT, Energy, Media, Metal, Oil & Gas down 0.5-1%.
"The reasonable bounce of the last two sessions seems to have halted at the hurdle of around 24200 levels on Thursday and Nifty closed the day off the highs.
A small negative candle was formed on the daily chart with long upper shadow. Technically, this market action signals a rejection for the bulls at the crucial overhead resistance. The market breadth was weak on Thursday, with broad market indices have settled with minor loss," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
"The near-term trend of Nifty remains positive amidst broader range movement. Having failed to surpass the crucial overhead resistance of 24200, one may expect further consolidation or minor dip by next week. Immediate support to be watched at 23800. A sustainable move above 24200 could open more upside in the near term," he added.
On Thursday, Indian rupee ended 25 paise higher at 94.40 against the US dollar, compared with its previous close of 94.65.
"Rupee supported by positive domestic equity markets and softer crude oil and bullion prices. The absence of aggressive FII selling has also helped keep the rupee stable around current levels. Sentiment has improved as geopolitical concerns eased following continued progress in the US-Iran talks," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.
"However, the Dollar Index above 101.50 continues to cap gains for the rupee. Possible monsoon delays or deficit and food inflation risks, along with expectations of higher US interest rates, may limit further appreciation. The rupee is expected to trade in the 94.10–94.80 range in the near term," he added.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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