Stock Market Holiday: India’s fairness, forex and commodity markets are shut on Wednesday, August 31, 2022, on account of Ganesh Chaturthi. While the fairness and forex markets will resume commerce on Thursday, September 1, 2022, commodity markets will resume for the night buying and selling session at 5 pm on Wednesday.
Commodity markets comply with two periods – morning session from 9:00 am to five:00 pm and night session from 5:00 pm until 11:30/11:55 pm.
On Tuesday, the benchmark fairness indices on the BSE and National Stock Exchange (NSE) soared over 2.5 per cent to log their greatest single-day achieve in additional than three months pushed by worth shopping for in banking, info know-how (IT) and oil shares amid combined world cues. The S&P BSE Sensex surged 1,564.45 factors (2.70 per cent) to finish at 59,537.07 whereas the Nifty 50 rallied 446.40 factors (2.58 per cent) to settle at 17,759.30. All 30 shares within the Sensex pack ended within the inexperienced on Tuesday.
The rupee rebounded by 39 paise to shut at a virtually two-week excessive of 79.52 in opposition to the US greenback on Tuesday, supported by international fund inflows and a correction in crude oil costs.
Commenting on the outlook for Nifty, Nagaraj Shetti, Technical Research Analyst at HDFC Securities stated, “Nifty seems to have reversed the recent downtrend sharply on the upside. Now, the bulls are ready to show a big bang upside breakout of the resistance of around 16,900 levels by this week end or by next week. A decisive move above 17,900 levels could pull the Nifty towards the next upside target of 18,300-18,400 in the next few weeks. Immediate support is placed at 17,600 levels.”
