On 26 January 2021, the 72nd Republic Day is being celebrated all over the country. The domestic stock market is closed on this occasion. Today, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) are not traded. Trading will begin normally on the stock market again on 27 January. The 30-share BSE Sensex was down 156.13 points or 0.31 per cent in the previous week.
Today the commodity and forex markets are also closed. Whole cell commodity markets, including metals and bullion, are not traded. Also, no business is being done in Commodity Future. Normal operation in these markets will begin from Wednesday.
The stock markets may fluctuate this week between the settlement of monthly derivative contracts before the general budget and the quarterly results of companies. Experts have expressed this opinion. Siddharth Khemka, head of retail research, Motilal Oswal Financial Services Ltd, said, “There may be a market turmoil in the coming days before the Union Budget and monthly deals expire.” Quarterly results of companies will also increase market volatility. The Federal Reserve’s monetary policy is also going to be announced this week.
The BSE Sensex crossed the 50,000 mark for the first time last week. In such a situation, market analysts believe that there may be a process of profit-booking in the market in the coming days. Analysts said that now all eyes are on the budget of 2021-22. The budget will provide direction for further journey of Sensex. The market witnessed a lot of ups and downs in the last year between the corona virus epidemic. The 30-share BSE Sensex hit a one-year low of 25,638.9 on March 24. However, the Sensex went to record levels during the year ahead.
Indian markets have been growing at a much faster pace over the last few months, expecting a faster revival after lockdown. Apart from this, the sentiment remains strong due to positive global trend, steady flow of foreign institutional investors and better quarterly results of companies.
The domestic stock market started on the green mark on the previous trading day. The Sensex gained 262.71 points (0.54 per cent) to open at 49,141.25. At the same time, the Nifty opened with a gain of 98.10 points, or 0.68 per cent, at 14,470.
The stock market closed on the red mark after Monday’s day-long volatility. The Sensex closed at the level of 48347.59 with a steep fall of 530.95 points, or 1.09 per cent. The Nifty was down 133 points (0.93 per cent) to close at 14238.90.