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Stock and forex markets shut on account of Christmas

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by December 25, 2017 General

NEW DELHI: The stock, currency and commodity markets remained shut on Monday on account of Christmas.

Major global stock markets, except for Japan, China and Taiwan, too remained shut for the day.

The markets that are observing Christmas holiday today include the US, the UK, Australia, South Korea, Hong Kong, Singapore, Germany, France, Italy, Brazil and Greece. While the domestic market will resume trade on Tuesday, key global markets may remain shut on account of Boxing Day.

Stocks the world over saw a Santa rally in the week gone by and India was no exception.

For the week, Sensex climbed 1.43 per cent to 33,940.30, while the NSE Nifty50 rose 1.55 per cent to 10,493. the BSE Smallcap and the Micap indices surged 4.52 per cent and 3.53 per cent, respectively, for the week. The rupee, on the other hand, gained 6 paise for the week to end at 64.04 against the US dollar against 64.10 a week ago.

A win for ruling BJP in Gujarat and Himachal Pradesh state elections came in as a sigh of relief for investors. Global cues supported the underlying strength of the domestic market, that once looked vulnerable on Monday morning when the BSE benchmark Sensex tumbled 800-odd points intraday on prospects of the Opposition Congress leading the vote tally in Gujarat.

Foreign portfolio investors (FPIs) were net sellers of Rs 2,611 crore for the week. But the outflows were offset by strong Rs 4,161.65 crore worth of money infused by domestic institutions.

But trading could be volatile next week as traders roll over positions in the futures & options (F&O) segment to January series. The December F&O derivatives contract will expire on Thursday.

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