Story continues below. Advertisement
The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will be closed on June 17 due to Eid-ul-Adha. Trading in derivatives, equities, SLBs, currency derivatives and interest rate derivatives will be suspended on the day.
Commodity derivatives trading will be halted from 9am to 5pm, with evening trading continuing from 5pm to 11.55pm.
Story continues below. Advertisement
Trading on both the NSE and BSE will resume on Tuesday, June 18.
Indian markets soared to new highs on June 14. Benchmark stock index Sensex rose for the third consecutive session while Nifty ended with gains for the fourth consecutive session.
At the close, the Sensex rose 0.24 per cent or 182 points to end at 76,992.77 and the Nifty rose 0.29 per cent or 66.7 points to end at 23,465.60.
Story continues below. Advertisement
Among the sectoral indices, BSE Capital Goods was the top gainer at 1.7 per cent, followed by BSE Communication, Consumer Durables and Consumer General Goods, which rose 1.3 per cent each. Among the decliners, the BSE IT index fell 0.7 per cent.
BSE midcap and smallcap stocks rose 1 per cent each.
“Nifty has consolidated for the fifth consecutive day and closed up 67 points. On the daily chart, we can see that Nifty is consolidating in a broad range of 23,200-23,500. The more the consolidation at these levels increases, the higher the chances of a breakout next week. With five days already underway, we believe a trend move is likely to unfold. Hourly momentum indicators have triggered a positive crossover from the equilibrium line, suggesting that the consolidation has matured and the next phase of upside can be resumed,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
Story continues below. Advertisement
“Bank Nifty is facing strong resistance at the 78.6% Fib retracement level (50050) and has not been able to rise above that level. The consolidation has been going on for five trading sessions and the index may resume its uptrend next week. Any dip towards 49500-49400 should be utilised as buying interest towards objectives of 50500-50600,” he added.
On Friday, the Indian rupee closed flat at 83.56 rupees per dollar against Thursday’s closing price of 83.54.
“The rupee remained flat around 83.55 as the dollar remained range bound. The rupee remained firm against the dollar despite fluctuations in the dollar index due to CPI data and Fed policy decisions,” said Jateen Trivedi, vice-president research analyst, commodities and currencies at LKP Securities.
“The rupee will likely trend range-bound but the underlying tone remains weak as it is trading near its all-time lows.”
“The dollar would need to fall significantly below Rs 103 to the dollar for rupee buying to pick up above Rs 83.00. Till then, the rupee is expected to trade within the range of around Rs 83.20-83.75,” he added.
