Indian forex, debt and fairness markets closed on account of Eid

Indian forex, debt and fairness markets will stay shut on Tuesday, May 3, 2022, on account of Id-Ul-Fitr (Ramzan Id). They will resume buying and selling on Wednesday, May 4, 2022.

On Monday, the frontline fairness indices on the BSE and National Stock Exchange (NSE) fell for the second consecutive session and ended marginally decrease. The S&P BSE Sensex fell 84.88 factors (0.15 per cent) to finish at 56,975.99 whereas the Nifty 50 slipped 33.45 factors (0.20 per cent) to settle at 17,069.10.

The rupee pared preliminary features to settle virtually flat at 76.48 towards the US greenback on Monday as subdued home equities offset the influence of a pointy decline in world crude oil costs.

Commenting on the outlook for Nifty, Nagaraj Shetti, Technical Research Analyst at HDFC Securities mentioned, “The short term trend of Nifty remains choppy and the market is placed within broader high low range. Minor upside bounce could be expected in the next 1-2 sessions and the market could eventually turn down and retest the support and lower range. Hence, limited upside and higher possibility of decisive downside breakout persists in the market.”