Is the stock market closed tomorrow?

The stock exchanges will resume trading on May 14, Friday.
NEW DELHI: Domestic equity, derivatives and currency markets will remain closed on Thursday on account of Eid-ul-Fitr (Ramzan Eid). Commodity markets will be closed in the first half and trading will take place only in the evening session.

Trading will resume in stock exchanges on May 14, Friday.

On Wednesday, domestic equity benchmarks were on track to register losses for a second straight day amid negative global cues.

Traders speculated surging commodity prices and growing inflationary pressure in the US could lead to earlier rate hikes and higher bond yields globally, which would result in further outflows.

Upcoming data is expected to show that annual inflation in the US likely came in around 3.6 per cent, pushed higher mainly by the base effect, and therefore may not sustain. But if the month-on-month inflation data shows a surge, the dovish Federal Reserve will be forced to take it seriously, said an analyst.

“Globally the markets are now caught between two opposing forces: economic recovery and inflation fears. While the former is positive the latter is negative. Going forward, the market trend will depend on which of the two triumphs over the other,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Broader market indices were, however, trading higher, outperforming their headline peers. Nifty Smallcap was up 0.28 per cent and Nifty Midcap 0.01 per cent. The broadest index on NSE, the Nifty 500, declined 0.36 per cent.

Most global indices were also trading in the red.

Meanwhile, the rupee weakened by 17 paise to 73.51 against the dollar during the session amid a rising greenback overseas.

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