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    Stock, bond, forex markets all shut today on account of Holi

    Synopsis

    Benchmark stock indices on Thursday ended in the red for the third straight session

    Stock, bonds, forex markets shut today for HoliThinkStock Photos

    BSE Sensex closed down 137 points, or 0.40 per cent, at 34,047 on Thursday.

    NEW DELHI: Domestic stock, bond, commodity and forex markets will be shut today on account of Holi.

    Benchmark stock indices on Thursday ended in the red for the third straight session amid subdued global cues and heavy sell-off in financial stocks.

    On Thursday, the S&P BSE Sensex closed down 137 points, or 0.40 per cent, at 34,047. The NSE Nifty50 lost 35 points, or 0.33 per cent, at 10,458.

    "Market traded in a narrow range while Bank Nifty continued to skid amid NPA issues and rise in bond yield. The impact of better-than-expected expansion in Q3 GDP data was offset by weak global cues. The interim volatility is due to inflationary pressure, rise in 10-year bond yield and Fed's rate hike trajectory, a portion of which has already been factored in the market...," said Vinod Nair, Head of Research, Geojit Financial Services.

    On the global front, US stocks plummetted over 1 per cent on Thursday after President Donald Trump said the United States will impose import tariffs on steel and aluminum, sparking fears of higher prices and a trade war.

    The decline pushed Dow into negative territory for the year and drove the CBOE volatility index to its highest close since February 13, denting the market’s recent recovery from deep losses in early February, Reuters reported.

    Dow Jones Industrial Average fell 420.22 points, or 1.68 per cent, to 24,608.98, S&P 500 36.16 points, or 1.33 per cent, to 2,677.67 and Nasdaq 92.45 points, or 1.27 per cent, to 7,180.56.

    Taking cues from Wall Street, stock markets in Asia slipped. Investors were rattled by Trump administration's decision to impose hefty tariffs on steel and aluminum imports. Early on Friday, MSCI’s Asia-Pacific index ex-Japan fell 0.2 per cent while Japan’s Nikkei tumbled 2.4 per cent.

    After trading in a narrow band of 65.10 and 65.25, the rupee on Thursday settled unchanged at 65.17 against the US dollar. However, for the week, the rupee depreciated by a sharp 44 paise. It lost a staggering 159 paise in February alone.

    Government bonds (G-Secs) weakened further on Thursday on heavy selling pressure from banks and corporates. The 7.17 per cent 10-year benchmark bond maturing in 2028 dropped to Rs 96.12 from Rs 96.20 as yield inched up to 7.74 per cent from 7.73 per cent. The 6.79 per cent government security maturing in 2027 dipped to Rs 92.71 from Rs 92.84, with yield edging up to 7.92 per cent from 7.90 per cent.

    In the bullion market, precious metals gold and silver declined on subdued demand and global cues. Standard gold (99.5 per cent purity) fell by Rs 160 to finish at Rs 30,385 per 10 grams. Silver (.999 fineness) came down by Rs 285 per kg to finish at Rs 38,210.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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