Sensex, Nifty, commodity, forex markets closed today on account of Ganesh Chaturthi celebrations

Mumbai: The Bombay Stock (BSE) and the National Stock Exchange (NSE) will remain closed today, 13 September on account of ‘Ganesh Chaturthi’. As a result, there will be no trading in the equity market. All wholesale commodity markets, including those of metals and bullion, oils and oilseeds are also closed. The forex and commodity futures markets will also not conduct any kind of trading. At the close of market hours on 12 September, 2018, the Sensex ended up 304.83 points or 0.81 percent at 37717.96, while the Nifty is higher up 82.40 points or 0.73 percent at 11369.90. [caption id=“attachment_5172621” align=“alignleft” width=“380”]  The 10-day Ganesh Chaturthi festival begins on 13 September. Sachin Gokhale/Firstpost[/caption] The rupee rebounded on Wednesay from the historic low of 72.91 to end higher by 51 paise at 72.18 against the dollar after the finance ministry assured of steps to avert its fall to “unreasonable levels”. The rupee had crashed to an all-time low of 72.91 in morning trade tracking higher crude oil prices that increased concerns of widening trade deficit at home. The forex sentiment bolstered after the government said all steps will be taken to ensure the domestic currency does not depreciate to “unreasonable levels”, amid reports that Prime Minister Narendra Modi will take stock of the economic situation over the weekend. “Government and RBI will do everything to ensure that rupee does not slide to unreasonable levels. Today’s correction seems to reflect that realisation,” Economic Affairs Secretary Subhash Chandra Garg tweeted on Wednesday.

No fundamental rationale for rupee to depreciate to levels we saw till yesterday. It reflected overreaction of market operators. Government and RBI will do everything to ensure that rupee does not slide to unreasonable levels. Today’s correction seems to reflect that realisation.

— Subhash Chandra Garg (@Subhashgarg1960) September 12, 2018

Adding to the bullish mode, the country’s trade deficit for August softened to $17.4 billion against near five-year high of $18.02 billion. The rupee hit a day’s high of 71.86, showing a sharp jump of 105 paise from the historic low, in the afternoon trade on positive sentiment. The currency pared some gains in the last hour of trade to settle at 72.18 to the US dollar, revealing a smart rise of 51 paise or 0.70 percent – the biggest one-day gain for the domestic unit since 25 May. --With PTI inputs