BSE, NSE, forex, commodity markets shut today for Ram Navami; Asian stocks slip as Trump warns of horrors to come

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) is closed today on account of 'Ram Navami'.

The wholesale commodity markets, including metal and bullion, will remain shut. There will be no trading activity in the forex and commodity futures markets, too.

The markets will resume for trading on 3 April (Friday).

On Wednesday (1 April), the markets closed trading on a negative note.

 BSE, NSE, forex, commodity markets shut today for Ram Navami; Asian stocks slip as Trump warns of horrors to come

Sensex pares losses, rises over 100 points ahead of US Fed policy meet. Reuters image.

On the first day of the financial year of 2020-21, the stock market indices ended lower with Nifty slipping below 8,300-level. All the sectoral indices ended lower. BSE Midcap and Smallcap indices shed 1-2 percent.

The Sensex tanked 1,203.18 points or 4.08 percent to 28265.31 while the Nifty was down 343.95 points or 4 percent at 8253.80 at close.

As many as 1,098 shares advanced, while 1,067 shares declined, and 167 shares remained unchanged.

Tech Mahindra was the top loser in the Sensex pack, crashing over 9 percent, followed by Kotak Bank, Axis Bank, TCS, Infosys and HUL.

On the other hand, Hero MotoCorp, Bajaj Auto, Bajaj Finance and Titan were the gainers.

Sumeet Bagadia, Executive Director, Choice Broking said: A day after logging healthy gains, Nifty ended the session with a huge loss of 3.97 percent at 8254.75 back in the negative territory, tracking weak global cues. The Nifty opened on gap down note and continue the same sentiment throughout the session and closed below 50 percent.

"The retracement level, i.e. 8,272 of previous up move support comes at 8,100 level i.e 61.8 percent FR level. Technical support also comes at 8,100, while resistance comes at 8,600.00. If index manages to give breakdown below 8,100 level then we can see 7900 and 7600 levels," he said.

According to traders, domestic equities plunged in tandem with global stocks as no respite from the coronavirus pandemic seemed in sight.

Asian stocks slip

Asian equities fell for a second session on Thursday, after a dire warning about the US coronavirus death toll had investors looking to the safety of dollars and bonds and bracing for more bad news from U.S. jobless figures.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.2 percent. Japan’s Nikkei extended Wednesday’s heavy drop with a 1.5 percent fall, and investors are beginning to worry that equities may re-test last month’s lows.

Markets in Hong Kong, Sydney, Shanghai and Seoul fell, though futures for the S&P 500 bounced following Wall Street’s 4 percent plunge overnight.

“Difficult days are ahead for our nation,” US President Donald Trump told reporters at the White House on Wednesday.

“We’re going to have a couple of weeks, starting pretty much now, but especially a few days from now, that are going to be horrific.”

Trump had initially played down the virus’ severity, but White House medical experts now forecast that even if Americans follow unprecedented stay-at-home orders, some 100,000 to 240,000 people could die from the respiratory disease.

The World Health Organization said the global case count will reach 1 million and the death toll 50,000 in the next few days. It currently stands at 43,412.

Updated Date: Apr 02, 2020 08:23:05 IST



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