The Indian inventory, commodity and cash markets will stay shut on Thursday, May 13, 2021, on account of Eid-Ul-Fitr. They will resume buying and selling on Friday, May 14, 2021.
On Wednesday, the benchmark S&P BSE Sensex had ended 471.01 factors (0.96 per cent) decrease at 48,690.80, and the broader Nifty 50 on NSE had fallen 154.25 factors (1.04 per cent) to settle at 14,696.50.
The rupee declined by 8 paise to shut at 73.42 towards the US greenback on Wednesday amid danger aversion within the world markets and surge in crude oil costs.
Commenting on the Nifty, Nagaraj Shetti, Technical Research Analyst at HDFC Securities mentioned, “The short term trend of Nifty seems to have reversed down within a broader range movement. There is a possibility of some more weakness in the coming sessions and we expect the recent swing low of 14,416 could be protected and the market could bounce from the lows in short term. Immediate support is placed at 14,620.”
