Indian stock markets were closed on Guru Nanak Jayanti, commemorating the Sikh founder's teachings of equality and service. While Indian markets remained shut, major Asian indices showed mixed trends, with Japan's Nikkei gaining 0.8%, and South Korea's KOSPI dipping 0.4%.
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Indian stock markets remained closed today in observance of Prakash Gurpurb, commemorating the birth anniversary of Guru Nanak Dev, the founder of Sikhism. This day is widely celebrated across India and by the Sikh community globally, honouring Guru Nanak's teachings of equality, compassion, and service to humanity.
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As per ANI, the Bombay Stock Exchange (BSE), the National Stock Exchange (NSE), and other key financial markets, including currency and commodity trading platforms, were shut for the day, with no equity or derivative trading taking place. Regular trading will resume on Monday, November 18.
While Indian markets observed the holiday, other major Asian indices displayed mixed trends. Japan’s Nikkei index recorded an increase of 0.8 per cent, and Hong Kong’s Hang Seng index gained 0.54 per cent. Taiwan’s weighted index also showed positive movement with a 0.5 per cent increase. However, South Korea’s KOSPI index dropped by 0.4 per cent at the time of filing this report, according to ANI. Meanwhile, Brent crude was reported to be trading at USD 72.13 per barrel.
The closure comes after Indian markets experienced a continuous six-day slump, with benchmark indices hitting multi-month lows on Thursday. The Sensex ended the day at 77,580.31 points, down 110.64 points or 0.14 per cent, while the Nifty closed at 23,532.70 points, registering a drop of 26.35 points or 0.11 per cent.
Sectoral indices displayed mixed results during the trading session on Thursday. Nifty Bank, Auto, and Media sectors closed in positive territory, while FMCG, Pharma, and PSU Banks ended in the red.
As per ANI, the ongoing decline in the Indian stock market has been attributed to several factors, including weaker-than-expected Q2 earnings, continuous outflows by foreign investors, and increasing domestic inflation at both retail and wholesale levels.
Globally, US markets also faced declines on Thursday. The S&P 500 registered a dip of 0.6 per cent, while the Nasdaq Composite index closed with a decrease of 0.69 per cent, as per ANI.
Indian markets are expected to reopen with normal trading hours next week, with investors keeping a close eye on domestic and global economic trends.
(With inputs from ANI)
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