Stock Market: Stocks, forex markets shut today on account of Diwali Balipratipada

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NEW DELHI: Domestic equity and forex markets will be closed on Monday on account of Diwali Balipratipada. In the case of commodity markets, trading will remain shut in the morning session, but resume in the evening session between 5 pm and 11.30 pm.

However, some key macro data are scheduled for release during the day, including the Wholesale Price Index . WPI inflation is projected to rise to 1.74 per cent in October from 1.32 per cent in the previous month, mainly on account of higher food prices, Nirmal Bang Institutional Equities said in a note.

“Inflation in food articles is likely to rise to 10.26 per cent in October from 8.17 per cent in the previous month. Global commodity prices have been mixed with crude oil witnessing a drop and metal prices rising. We expect core WPI inflation to inch up to 0.89 per cent from 0.68 per cent, led by higher metal prices and a low base,” the brokerage said.

Trade data for October may also be released during the day.

Globally, Japan will release its GDP data while China will disclose its October industrial production, housing prices and retail sales data during the same day.

On Wall Street, the Dow Jones Industrial Average rose 399.64 points, or 1.37 per cent, to 29,479 on Friday, while S&P500 index gained 48.14 points, or 1.36 per cent, to 3,585.15 and the Nasdaq Composite 119.70 points, or 1.02 per cent, to 11,829.

Domestic stock indices surged over 4 per cent in the extended Diwali week to hit a record on optimism over vaccine and US election results. The BSE Sensex gained 1,744 points, or 4.17 per cent, for the week to close at 43,637 in Saturday’s Mahurat Tradign Session, while Nifty50 gained 516.70 points or 4.21 per cent for the week to end at 12,780.

In the forex market , the rupee halted its four-session losing streak on Friday to settle with a marginal 2 paise gain at 74.62 to the US dollar, as stronger Asian peers against the greenback lent support to the domestic unit.

Source: economictimes.indiatimes.com

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