The currency, debt and equity markets are closed on Monday on account of Diwali Balipratipada.Financial markets will resume trading on Tuesday, October 29.Sensex opened up 339 points, or 0.8 per cent, then pared some of its gains to close at 39,250, up 192 points, or 0.5 per cent, in the special hourlong Diwali trading session on Sunday.
The Nifty gained 44 points, or 0.4 per cent, to close at 11,628.While a revival in corporate earnings is expected to take some time, monetary easing, along with the spurt in policy interventions over the past few months, will hold the key to sentiment in the new year, said market participants.
That trend is expected to continue.Considered an auspicious occasion, traders following the lunar financial year opened accounts for the new year with a 60-minute trading session.
A large number of brokers, traders and their family members were present at the customary muhurat trading function held at the BSEs iconic Phiroze Jeejeebhoy Towers.The broader NSE index ended 0.01 per cent higher at 11,582.60 on Friday, while the benchmark BSE closed up 0.1 per cent at 39,058.06.
For the week, both NSE and BSE closed over half a percent lower.Meanwhile, Asian markets hit a three-month high as risk assets got a fillip from hopes of a US-China trade deal as soon as next month while the dollar marked time as focus shifts to a US rate decision.In early Asian trades, MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3 per cent for its third straight day of gains to 518.29, the highest since late July.(With inputs from ET Bureau, Reuters - PTI)