On the occasion of Ram Navami, Indian stock markets are shut on Wednesday. The normal trading activities will resume on Thursday.
The Indian stock markets on Tuesday ended with their third consecutive weak session due to global market concerns. This was prompted by escalating tensions in the Iran-Israel conflict.
Earlier on Tuesday, the Nifty closed down 0.56% at 22,147.90. The BSE Sensex finished 0.62% lower at 72,943.68.
Ajit Mishra, Senior Vice President (Research) Religare Broking Ltd said, “Weak global cues are largely weighing on the sentiment and this trend may continue, with intermediate pause/rebound.”
Vinod Nair, Head of Research at Geojit Financial Services, pointed out a sharp drop in the IT sector. He cited expectations of reduced earnings due to weak US discretionary spending and muted domestic Q4 results.
Infosys, PNB, IndusInd Bank, LTIMindtree, Cholamandalam Invest, Berger Paints, Bank Of Baroda, Wipro, Bajaj Finserv, and Tech Mahindra were the top laggards.
Among the gainers were Eicher Motors, Samvardhana Motherson, HAL, JIO Financial Serv., Vedanta, Adani Power, and Ambuja Cement.
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong all closed lower.
European markets were trading in the red.
Meanwhile, the next stock market holiday is on 1 May, for Maharashtra Day.
