Maharashtra Day: Indian Stock Markets Shut, Resume On Thursday

On the occasion of Maharashtra Day, Indian stock markets will remain shut on Wednesday. The normal trading activities will resume on Thursday.

Earlier on Tuesday, the Sensex and Nifty experienced a downturn as a late-session sell-off wiped out early gains.

The IT and power sectors hindered the indices, contributing to a mixed trend observed in global markets.

The 30-share BSE Sensex dipped by 188.50 points or 0.25 percent, closing at 74,482.78.

Earlier in the session, it had surged by 440.11 points or 0.58 percent, reaching 75,111.39.

The NSE Nifty fell by 38.55 points or 0.17 percent, settling at 22,604.85.

In late afternoon trading, the benchmark hit an all-time high of 22,783.35, marking a gain of 139.95 points or 0.61 percent.

IOCL, IRFC, Vedanta, HAL, Tech Mahindra, BPCL, Torrent Pharma, Ambuja Cements, and JSW Steel were among the top laggards on the stock market.

Among the gainers were RECL, Power Finance Corp, Mahindra & Mahindra, Bank Of Baroda, Power Grid Corp, PNB, and Adani Power.

In Asian markets, Tokyo, South Korea, and Hong Kong concluded higher, while Shanghai, Taiwan, and Malaysia finished lower.

European stocks were mostly trading lower.

In its March meeting, the US Federal Reserve decided to keep the key interest rate steady at 5.25-5.50 percent.

This marks the fifth consecutive time the central bank has chosen not to change the rate, as it aims to control high inflation.

During the COVID-19 pandemic, interest rates were close to zero.

Meanwhile, the next stock market holiday is on 20 May, for General Elections.

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