Bourses shut on account of Bakrid, trading to resume on Tuesday

Investors await further measures to reverse the slowdown in the national economy and either some tweaks or rollback of the tax surcharge on super-rich from the Centre.

By Author  |  Published: 12th Aug 2019  5:30 pmUpdated: 12th Aug 2019  5:37 pm
Bourses shut on account of Bakra eid, trading to resume on Tuesday
Union Minister for Finance and Corporate Affairs Nirmala Sitharaman and other dignitaries.

Mumbai: The National Stock Exchange (NSE) of India Ltd and BSE Ltd were closed for trading on Monday on account of Bakrid holiday.

The trading will resume on Tuesday after an extended weekend.

Wholesale commodity markets including metals and bullion were also closed. There was no trading activity in foreign exchange and commodity futures markets as well.

On Friday last week, equity benchmark indices had continued rally for the second consecutive session and closed higher. The BSE Sensex climbed 254.55 points to 37,581.91 and the Nifty rose 77.20 points to 11,109.65.

Investors await further measures to reverse the slowdown in the national economy and either some tweaks or rollback of the tax surcharge on super-rich from the Centre.

Finance Minister Nirmala Sitharaman held a series of meetings last week with various stakeholders from the industry and capital markets.

Meanwhile, Asian shares were mixed as investors worried a prolonged US-China trade war could tip the world and US economies into recession.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.17 percent while the South Korean market rose 0.12 per cent. Markets in Japan and Singapore were closed for a holiday.

On Friday, US shares finished lower after US President Donald Trump said that Washington is continuing trade talks with Beijing but the United States is not going to make a deal for now.