Benchmark indices rebound after three days of decline
The BSE Sensex closed 218.14 points higher to 81,224.75 on October 18 while NSE Nifty rose 104.20 points to 24,854.05.
Domestic markets are closed on 30 November for a public holiday. The financial markets will resume trading on Dec 1. The morning session on MCX – from 09:00 am – 5:00 pm – will also remain closed for trading for Guru Nanak Jayanti.
However, the evening session of commodity exchange MCX will remain open for trading from 5:00 pm – 11:30 pm.
The NSE Nifty 50 index ended 0.14% lower at 12,968.95 and the S&P BSE Sensex closed down 0.25% at 44,149.72 on Friday.
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The 10-year benchmark bond yield ended at 5.911%, while the rupee settled at 74.05 to the dollar.
RBI’s MPC meeting is scheduled this week. “Market participants would want to take cues from the likely inflation trend and any upward revision of growth forecasts to plan their next move. There is a high probability that the RBI would maintain an accommodative stance given the economy is slowly recovering and facing inflationary pressures,” said Nirali Shah, Senior Research Analyst, Samco Securities.
World markets have surged this month thanks to breakthroughs on vaccines. With at least three drugs in the pipeline and approval in some countries said to be just weeks away, there is a general feeling of optimism on trading floors as dealers forecast an economic rebound next year.
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