Indian stock markets are closed on Monday on account of Dr. B.R. Ambedkar Jayanti, which commemorates the birth anniversary of Babasaheb Ambedkar, born on April 14, 1891.
Every year, this day is observed as a public holiday across the country. Schools, banks, and several government offices remain closed in honour of the social reformer and architect of the Indian Constitution.
Indian equity markets ended the past week with gains after a very volatile start.
The week began with a sharp sell-off on Monday, as global markets reacted negatively to the U.S. government’s announcement of reciprocal tariffs. This move sparked fears of a trade war and triggered panic among investors. The situation worsened when China responded with its own set of retaliatory measures, further impacting investor sentiment worldwide.
However, markets managed to recover some ground after the U.S. decided to defer the implementation of tariffs for all countries except China. This move brought some relief to global markets, including India, and led to a rebound in stock prices in the following sessions.
Last Friday, the Sensex closed at 75,157.26 points, up 1,310.11 points or 1.77 per cent, while the Nifty closed at 22,828.55 points, up 429.40 points or 1.92 per cent. Among sectoral indices, Nifty Metal, Consumer Durables, and Oil & Gas were the top movers.
On the domestic front, Indian indices also received a boost from the Reserve Bank of India’s recent policy announcement. The central bank not only cut interest rates but also adopted a dovish stance, indicating that further support could be provided if necessary. This decision was welcomed by investors and helped cushion earlier losses.
ANI
