Mumbai: Indias stock, bond and forex markets are closed on Friday on account of Maha Shivratri.
The commodity market will resume for trading in the evening session.
Trading will resume on Monday for the other markets.In a dull session on Thursday, the domestic equity market ended lower.
BSEs 30-share Sensex dropped 0.37 per cent or 152.88 points to close at 41,170.12, while NSEs 50-share Nifty shed 0.37 per cent or 45.05 points to close at 12,080.85.For the week, the barometer indices shed 0.70 per cent and 0.77 per cent, respectively.Meanwhile, the rupee on Thursday declined 10 paise to settle at a more than one-month low of 71.64 against the dollar amid selling in domestic equities and strengthening of the American currency in the overseas market.The sentiment on Dalal Street has been jittery with investors across the globe closely watching the developments related to the coronavirus epidemic in China.
Also, the Supreme Courts order for telcos has shaken up the banks as well.Disappointing corporate earnings has added to investors woes.Going ahead, investors will focus on US President Donald Trumps visit to India next week and developments related to Coronavirus outbreak.Investors will focus on Trumps India visit and would await clarity on the major trade deal that the two countries are working on.
The market would continue tracking global developments around coronavirus, and thus could continue witnessing volatility.
We expect the market to remain narrow and concentrated in the absence of any major event, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.Nifty formed a small bodied candle with a long lower shadow on the weekly time frame, which indicates that dips got bought into.
At the current juncture, Niftys support stands at 12,030, and until this holds, we maintain our positive stance for a bounce towards 12,200-12,300, he added.