BSE and NSE are shut today on the eve of Ramzan
On May 22, at 9,039.25, Nifty slipped 67 points or 0.74 percent, while Sensex finished 260.31 points down or 0.84 percent at 30,672.59. On the eve of Ramzan, on Monday 25 May, the Bombay Stock Exchange ( BSE) and the National Stock Exchange of India (NSE) will remain closed.
Wholesale commodity markets, including metal and bullion, will also remain closed and forex and commodity futures markets will also have no trading operation. The central bank cut the repo rate to 4 percent by 40 basis points and the reverse repo rate to 3.35 percent by 40 basis points. The moratorium on term-loan repayments has also been extended for another three months to 31 August 2020.
Axis Bank, HDFC, Bajaj Finserv, Bajaj Finance, and Hindalco Industries were among Nifty’s top losers, while Zee Entertainment, M&M, Cipla, Shree Cement, and Infosys were among the winners. “Markets were hoping that some step from the RBI could improve the banking and financial sectors, but the announcement of the extension of the moratorium further dented the sentiment. The US-China brewing feud is also adding to the concerns of the participants,” said Ajit Mishra, VP, Religare Broking Research.
