Stock, money and commodity markets closed these days on legend of Mahavir Jayanti

NEW DELHI: Equity, money and commodity markets are shut for procuring and selling these days on legend of Mahavir Jayanti.

Buying and selling would resume Tuesday on frequent timings.

Globally, Asian stock markets opened better in early switch on Monday, with South Korea’s Kospi rising 1.4 per cent, Japan’s Nikkei 0.2 per cent and Australia’s benchmark 0.5 per cent, encouraged by a slowdown in coronavirus-related deaths and original circumstances.

US stock futures jumped extra than 1.5 per cent after US President Donald Trump expressed hope the nation was once seeing a “levelling off” of the Covid-19 disaster.

Following suit, Nifty futures procuring and selling on Singapore Trade had been up 52.50 aspects or 0.65 per cent at 8,138.50.

China markets are closed these days for a public vacation.

For India, yet any other encouraging files was once the postponment of a meeting between Saudi Arabia and Russia over a likely within the reduction of in oil production.

Brent impolite futures slipped 6.2 per cent, or $2.13, to $31.98 a barrel while US impolite dived 7.4 per cent, or $2.12, to $26.12.

Final week was once disapponting for the home equity market. NSE barometer Nifty fell 6.66 per cent for the week to 8,083 while 30-allotment pack Sensex was once down 7.46 per cent to 27,590.

Bank shares had been basically the most affected as Nifty Bank plunged about 14 per cent to 17,249.30.

“On average, the height to trough fall is 50 per cent. It always takes 14 months for markets to fully bottom out & takes 18 months on an average to fully recover to outdated height,” Ambit Capital acknowledged in a blow their own horns.

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